EU: Italy remains under investigation, but progress has been made – Il Sole 24 Ore

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This article was published on February 23, 2016 at 15:10.

Italy remains under investigation because of the macro-economic imbalances, but Brussels acknowledges the progress made on several fronts – the labor market, education, Pa and banks – and It encourages Roma to do more. This, it has been learned, the indication contained in the report on macroeconomic imbalances in the EU countries that tomorrow will be on the table of the European Commission. The document also highlights, however, the persistence of a high cost of debt service.

Tomorrow the country reports, encouragement to Italy
Tomorrow the Commission will have a “debate guidance ‘on’ country reports’. It is the assessment on the progress made by each country in putting into practice the recommendations that the government, under the so called “European Semester” is for each country in the month of May. This was confirmed by the spokesman Margaritis Schinas, pointing out that these reports also contain in-depth assessment on the fiscal imbalances of countries. According to reports, Italy will be entitled to an assessment of prevailing appearance of “encouragement”. It will confirm the membership of a group of countries “under observation”, which on this occasion will be larger than in previous years and will also include for example France. The fact of being in the most numerous company and have had the recognition of some progress in reforms, makes Italy less vulnerable to criticism Community executive.

Recognized the progress of work and banks
The report will be discussed tomorrow will recognize in particular the progress made with labor market reform (Jobs Act) and the measures to reduce bank loans, and encourage the government to do more in the fight against tax evasion, civil justice and public administration. Of course the high public debt remains a problem, but it is noted in Brussels, if we compare this evaluation with earlier, is much more present the appearance of ‘encouragement’ from that of ‘recall’: we are far from the danger of a process is underlined. The report takes note of the Italian request for the use of flexibility in the budget deficit assessment but does not anticipate the guidance of the Commission on this, which will be decided at a later stage in the spring and on the basis of data “in the final balance.”

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