In Italy, "there is a threat of populist. It is for this reason that we support the efforts of Renzi that is a strong partner within the Eu". Word of the european commissioner to the Economic Affairs, Pierre Moscovici, who has made the statement in an interview to Bloomberg in the margin of the work of the International Monetary Fund. "I trust that Italy, as always, he would manage and resolve all his problems with our help," said the commissioner, referring to the problems of budget and banking system of the Peninsula. You are not decomposed when the interviewer raised the shooting asking if Brussels will be so "forgiving" to be done so that the problems of Italian banks, with the risk of bail in case Mps is becoming more and more concrete, are resolved before the referendum,. "We don’t need to be indulgent, he replied, ” we are always serious, but we must also understand and try to help. Here, I wouldn’t say lenient, I would say to be of help." But the rules can be changed, can be violated, objected the interviewer. And the French commissioner file still: no need to break the rules, but rather there is the "flexibility within the rules, and this Commission tries to be smart within the frame of rules".
Flexibility, moreover, has been the key word of the intervention of Moscovici at the Atlantic Council in the margin of the work of the Imf. Here the commissioner is not exposed on the thorns of the Italian banking system, which in addition to the case MontePaschi, also count to Unicredit, and of the four banks saved a year ago, and still to sell. Instead, he gave a great opening on the public accounts of the Country and on the topic of flexibility whose hungry the government Renzi in the writing stage of the law of Stability, especially on the eve of a referendum that politically supportive of the measures that the accounts of the Country would require. "We have said clearly what is the flexibility in January 2015. We must encourage the Countries that create a lot of investments, we did it with Italy. Help Countries which carry out structural reforms so that they can have more time, we did it with Italy – said Moscovici -. We said that we would be ready to consider costs for the crisis of refugees or a earthquake, or a Country that suffers from terrorist attacks, such as Belgium. It is the flexibility of precise, limited, and clearly explained. In general, a Country must meet the criteria and reduce the debt is the main problem of Italy and Belgium".
This, subject to considerable debate, because, according to Moscovici, "this commission does not wish to sanction. The penalties is always a failure. It would be for the rules because shows that do not work, it would be for a Country". The signal, says the commissioner, "would have been a disaster on Spain and Portugal, would have indicated a failure, that we are not building trust". Moscovici has called a proud not to have punished Spain and Portugal. "We do not believe that the sanctions go avoid if they are avoidable, but should be avoided if we can do better," she added, Moscovici claiming that the sanction is better to start a dialogue and search for a compromise. Words like honey for the duo Renzi – Padoan, who is preparing to ask Brussels to new areas of the budget in the Draft budgetary plan, the planning document used by Brussels to express his judgement on the maneuver. By considering the various positions within the Commission, the opening probably will not be absolute, but Italy could enjoy a few decimal more, compared with 2.0% of deficit entered in the tables in the update Note of the Def. The compromise that now seems to be at the gates for the banks, while the exchange, the Monte dei Paschi, which will soon have to ask for a 5 billion market, which continues to lose value: after yet another splash on Thursday, October 6, the market value of the credit institute of siena, of which the Treasury is the largest shareholder, has slipped below half a billion, about 492 million euros.
