Growing doubts about the “treasure.” Bankitalia: is modest, use it to … – Il Sole 24 Ore

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This article was published April 21, 2015 at 10:29.
The last change is the April 21, 2015 at 10:44.

day of hearings for the budget committees of the House and Senate, engaged in the examination of the document economics and finance, 2015. In the first talk of the morning, the President of the Parliamentary Budget has warned MPs from the idea of ​​being able to count on the 1.6 billion euro of “bonus”, better known as “treasure”. “It seems premature” stressed Giuspette Pisauro, think of using the figure announced by Renzi in 2015 Def “reputing already acquired.”

Pisauro “puzzled” by choice of the government
A “very modest deviation of the macro or the interest rate forecasts nullify” the fact “improvement” expected under programmatic causing a “significant departure from the path towards the” MTO (MTO). For this, Pisauro reiterated “perplexity strong enough” for the choice of Palazzo Chigi which effectively gives already acquired for the additional resources of the disputed “” treasure “.

Bankitalia: do not spend “treasure” but rebalance accounts
On the topic said its also Bankitalia. After defining “modest” the “bonus”, and entirely due to lower interest payments, via Nazionale asked that this is still “used to accelerate the rebalancing of public finances,” giving “greater certainty to the path to rebalance ‘ . The deputy general manager of Bank of Italy, Luigi Federico Signorini, recalled that “the restructuring the debt citaliano, which remains among the heaviest in Europe, should not be pursued only because required” by the EU but because “dictate the principles of good administration and the need to put the country in terms of security than any change in the mood of the markets, which can never be excluded and that copiscono public finances all the tougher the more fragile are the starting conditions. ”

Scenario Def 2015-2016 “plausible but not risk-free ‘
Overall, the Bank of Italy has nevertheless deemed” plausible “the macroeconomic scenario outlined in the Def 2015-16 biennium, “though not without risk in the short term.” “The improvements of the trust must be consolidated – noted Signorini – the uncertainty of the outcome of negotiations on the adjustment program of the government remains high and can cause volatility in the financial conditions.”

Complete path reforms Structural
To balance the elements of uncertainty, the Bank of Italy has therefore urged Parliament to deliver fully on structural reforms, provided «essential to increase sustainable growth potential of the economy and facilitate the same fiscal consolidation ». Overall, the strategy of reforms put in the yard by the government appears “widely shared. Despite the progress made in the last period the implementation phase continues to represent one of the main weaknesses of the reform process in place. “

Priority implementation of the Jobs Act legislation
Among the measures to be implemented “promptly,” Signorini cited in particular the decrees of the Jobs Act. Those approved early in the year and “that gave partial implementation of the Law on the regulation of delegation involved layoffs by reducing uncertainty the outcome of litigation, strengthening the mechanisms for income support in the event of loss of employment, bringing Italy to the best international practices and simplify the regulation of labor relations. ”

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