BRUSSELS – Despite the communication of the EU Commission on the flexibility of the Covenant is now in black and white, is not abating the clash between the front of the penalty takers and that of countries seeking a new path to growth. Germany confirms adamant that the rules that the economy minister Wolfgang Schaeuble back to ask again today during the hearing in the European Parliament with Mr Pier Carlo Padoan. Which refers to the sender any reference to Italy: “There is the perception that Italy is in violation of the rules but the numbers look good, does not it,” he told MEPs. But the narrow road to the Italian public finances is confirmed by its Vice President of the EU Commission Valdis Dombrovskis, one of the examiners of weight in the examination in March: the flexibility Italy has marine limited, because it is too close to 3%.
“The flexibility is not bad in itself but it should not lead to a situation where the agreed rules are not followed. Then it would be wrong and would destroy the trust,” said Schaeuble, according to which “the flexibility of rules clashes not only with the legal limits but also with the question of maintaining confidence in the states. ” In the past, said Schaeuble, “the rules have not been respected, even my country has not complied with, but we have learned the lesson.” And now, he explains, Berlin is committed with the EU to respect the rules “because now we do not want to criticize us.”
The minister defends Padoan Italy: “We respect the rules better than others despite the high debt for which we make every effort so that you keep in a reduction path, “he explained to Parliament. After the Ecofin then, admits that although the EU were to write “a report” on Italian debt, “I’m sure it will end with the word ‘sustainable’.” Because “the fact that you build a relationship on the debt does not imply a procedure.” The Commission, which holds the Italian debt under control, it could start a procedure against Italy for excessive debt at any time, since it does not respect the rule of debt. This procedure would start right after the drafting of a report. But the Commission has so far reassured Italy: the wind has changed in Brussels, do not want to punish countries but help them to find their way to combine finances and sustainable growth. To keep up the pressure on Italy in view of March the fact remains that “all options are on the table”, including the procedure, explained Dombrovskis, according to which for Italy “flexibility applies” but “the margin maneuver is limited because the deficit is close to 3%. “
Italy, however, remains determined to use all the possibilities offered by the new interpretation of the rules:” We will enforce the exceptional circumstances, ie cycle deteriorated, absence nominal growth and continue the great effort of the reforms that the government is already implementing and that the Commission appreciates, “said Padoan.
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