Padoan: weekdays measures to strengthen the banking system – Il Sole 24 Ore

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This article was published February 6, 2016 at 17:26.
the last change is the February 6, 2016 at 20:55.

‘Europe say: how do you assess the quality of an economy? I have no doubt, on its ability to create jobs. And then the institutions and instruments that Europe has set itself, including the Monetary Union and will have to assess this. And on that Europe he has not done enough. ” This was stated by Economy Minister Pier Carlo Padoan speaking at the training school of the Democratic Party, recalling that this is what “the Government keeps saying. We must refocus European economic policy priorities towards the creation of jobs. ” Padoan then indicated different tools, such as support investment, use the fiscal space ( “Italy uses all its fiscal space including flexibility clauses’), introducing European tools in support of the labor market. In this regard, the minister recalled that ” Italy has made a proposal to introduce a European measure of insurance against unemployment. “

Solid the banking system: Incoming measures that will strengthen further
the Italian banking system “is very solid and is left to solidify,” and in the week that is coming will put ‘government in the field “measures which will further strengthen,” said the Minister of Economy. Italy, said Padoan, in the recession “has lost 10 percent of GDP,” and stressed that our ‘banking system has weathered the crisis without further banking crises and without state aid. ” Unlike other countries such as Germany where “more than 200 billion were placed.”

key element taxes Cut
“From the decree of 80 euro tax reduction is a crucial element of the government’s economic policies. It is very nice to reduce taxes, the real question is not whether we need to reduce taxes but how you cover the tax cuts. As? With spending cuts. With the spending review which is a process that continues, “said Economy Minister. “The state is making great progress on the efficiency of spending. For example, with health spending where it goes from 33 thousand to 32 shopping centers, something that allows a huge efficiency of the spending processes, “he says.

Flexibility? Italy uses all its fiscal space
“Italy uses all its fiscal space with flexibility clauses, there are those who do not,” said Minister Pier Carlo Padoan.

you have to attack the debt
“the Italian public debt is a” vulnerability that we carry with us that we have to keep under control and you have to attack because you have to convince the markets to have confidence in the country, “stressed Economy Minister, reiterating that finally as claimed by the European Commission” in 2016 the debt will begin to decline after many years. ” Trust “has a very high price – added Padoan – and is called evil spreads.” According to the minister, the problem “is not so much whether the debt is high or low, but if it increases or decreases, in which direction it goes and the direction must be down.”

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