Dijsselbloem against the enlargement of the cords of the financial statements in the Eu – The Republic

MILAN - The setting of fiscal policy in Europe is still a matter of discussion, frequently in very heated tones. After the hawk German Wolfgang Schaeuble, has been the president of the Eurogroup, Jeroen Dijsselboem, to freeze the ‘turning’ of the european Commission in favour of a setting of the budgets you post in favor of growth, with the indication of a “fiscal stance”, that is, an expansionary fiscal policy in the order of 0.5 percentage points of Gdp: a “manovrona” expansive 50 billion at the level of the monetary Union.

And this was the meaning of his statements at the hearing of the parliamentary committee on economic and monetary Affairs. The Eurozone, he argued, “is not yet stable enough” to proceed on a path of expansion of the balance sheet, and such a path can be taken only by the countries “that have a space budget to be able to do.” In the first place, the task of the commission is to comply with the rules of the stability pact, “to hold together the euro zone. It is only a taste of the discussion that will have the finance ministers next Monday in Brussels. And Italy is among the Countries in which the growth potential has not yet been expressed.
“Dijsselbloem has no awareness of the house happens in Italy,” was the dry response of the premier Matteo Renzi, interviewed by Tg2 Rai, answering a question about the statements of the president of the Eurogroup, according to ui, the Countries must respect what was agreed on the achievement of the s tructural balance of the budget

According to Dijsselbloem, however, “it is important that they are complied with the commitments in order to achieve a balance budget in structural terms”. Asked to explain if it was or not you agree with the assessment by the european commission on the need to ensure the economy a support to “moderately” expansive of the budget in aggregate terms, in the euro area, the Eurogroup chairman said that the space budget exists in the countries in which the gap between potential growth and actual growth in “closed”, but where there is still “this space is not there” (this is for example the case of Italy).

Before Renzi was also addressed by the minister for economic Development, Carlo Calenda: “Dijsselbloem is taking a gigantic blunder, which it does quite regularly”. According to the Italian minister, the president of the Eurogroup, “do not understand that the question is not are budget constraints, but the fact that Europe is in the midst of the challenges extremely difficult, the first of which is a clear alienation of the citizens and need to make a large investment plan to transform it and need a new deal at the european level”.

Dijsselbloem has deliberately reminded that the Eurogroup is not only a minister, but there are 19. In contrast to direct with the commissioner for economic Affairs, Pierre Moscovici, presenting the proposal of an action in the expansive equal to 0.5% of Gdp in the euro area had let slip that the Commission is acting as a ‘minister’ of the euro area.

Topics:

Eu budgets

austerity

rigor

Eurogroup

Starring:

Jeroen Dijsselbloem

Carlo Calenda