Padoan “From Ue no signal opposed to flexibility” – BBC

AMSTERDAM “The negotiations are going in the right direction. Certainly, so far, we have not had negative or contrary signals. The dialogue with the European Commission goes on for some time in a constructive way and we expect short his final judgment on the Document of Economics and Finance and on budgetary flexibility for 2017 “. Economy Minister Pier Carlo Padoan, is optimistic about the green light to the EU budget package next year, despite an increase in programmatic deficit from 1.1 to 1.8% of gross domestic product.

“the new public accounts return profile assumes that requests for flexibility are accepted ” Padoan added on the sidelines of the informal meeting of European finance ministers in Amsterdam, which allowed the government to bring home some important results, at least in perspective. The proposal of the Netherlands, Germany and Finland to curb exposure of banks in government securities which openly opposed by Rome, and the majority of other EU countries, has virtually stalled. But above all seems to be over the proposed Padoan, supported by eight other governments, to change the method for calculating the structural deficit, ie the deficit adjusted for the effects of the economic cycle, which to date has been the key indicator to assess the policy of balance sheet of the euro area member countries. you will not come to a radical revision of that indicator, which in the future will leave anyway way to a parameter easier to manage, as a goal of public spending, but as demanded Italy, it has been given a mandate to the Commission to align its calculation methods to those adopted by the member countries which, ironically, are different. Already the fact to make them uniform would give strong benefits to Italy, which has always considered penalized by this way of calculating the deficit.

“Applying the new system – said Padoan – the structural budget Italian would be already in the structural balance . ” Padoan has finally confirmed the launch, probably next Tuesday, a new decree on banks. “There will be the measures for reimbursement of savers involved in the collapse of four banks put in the resolution, and the other to speed up the contractual dispute that could make even the quickest return of non-performing loans of banks,” said Padoan. Many of these interventions are already provided for by the draft law for the reform of the bankruptcy proceedings, which will therefore be written off and accelerated by decree.

April 23, 2016 (modified April 23, 2016 | 17:15)

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