Europe, the proposal of the Renzi government to relaunch: growth, jobs and a Minister of Finance EU – Il Sole 24 Ore

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This article was published on February 22, 2016 at 16:20 hours.
the last change is the 22 February 2016 at 16:40.

Using full of resources to stimulate growth and employment, along with the banking union with the guarantee of European deposits, a minister of finance with EU budget to be managed, single European policy on migrants. The Italian Government launches its official proposal for a European renaissance. Prime Minister’s office and the ministry of the economy have spread in the afternoon on the website of the Government “Italy strategic proposal for the future of the EU: growth, jobs and stability.” A nine-page document (in English only) in which the executive proposes the recipe to lift the EU, because “the European project is suffering an unprecedented crisis,” says the document sent to Brussels.

A document which calls on the Commission to fully use all the space available to support the development and employment, shared at European level. The European Union law ‘is a great opportunity, “but the” European project is suffering an unprecedented crisis. ” In this scenario, “we must identify and provide people with the solutions they expect,” he points out in the document. Thus, “the Italian government has an agenda of far-reaching political and concrete proposals to contribute to the debate on how an opportunity can become a concrete project.”

The fiscal space “should be fully used to support growth”, in this period of exceptionally low inflation and modest recovery is underlined in the “position paper” on European policy. In a macroeconomic environment of this kind in fact, even the expansive monetary policy of the ECB is not enough. To weigh in fact a “prolonged modest rate of growth and exceptionally low inflation also the extraordinary measures put in place by the European Central Bank is proving inadequate.”

Among the urgent issues that of migrants. European borders should be managed on a joint basis and for this purpose should be found most types of resources, even justifying the use of “economic solidarity mechanisms that could also include the issue of EU bonds,” reads the document put forward by the government that It urges EU countries to move forward banking Union “incomplete.”
A gentle key but crucial for the progress of Europe and especially Italy. Its completion writes the government is a “key priority” that would provide the necessary tools to combat systemic crises.

It also pushes for the creation of the European Fund Deposit Guarantee that “enhance trust, the key ingredient for the success of the banking sector, and help to reduce the risks.” Sharing of risks and reducing them in fact “significantly increase financial stability.”

Italy also proposes to establish in advance a public protection for European Resolution Fund to improve the credibility of the single resolution mechanism. It then calls for the implementation of the Directive on banking crises, the Brrd, both managed to avoid financial instability through better communication, transparency and risk assessment.

The Government reaffirms its support for the proposal to have “a minister of the euro zone finance” able to carry on “a common fiscal policy.” At this super minister “we would, however, require a budget of euro area, with adequate resources.”

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