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the proposal from The european Commission to promote the public spending in the countries in surplus or balanced budget in order to support the economy in the euro zone has caused a reaction very sharp of the Italian Government and is causing in Europe a lively debate. Speaking yesterday before the european Parliament, the president of the Eurogroup, Jeroen Dijsselbloem has distanced itself from the initiative of the community, as he had said Monday the european central Bank. “It is necessary to safeguard the credibility of the Stability Pact and the european Commission has a key responsibility – he said, yesterday morning, here in Brussels the president Dijsselbloem, the Netherlands is also the minister of Finance: all financial statements must proceed towards the balance and if there is space in the budget (for expansionary policies, ed) in some Countries, you can use it, but this is a choice not compulsory, non-binding. It is the individual Country to decide̶ 1;.
The replication dry premier, Matteo Renzi, arrived in the course of the Tg2: “I Believe that Dijsselbloem is not aware of how things are going in Italy,” said Renzi, adding that “if Europe wants money the italians must begin to comply with the commitments: european leaders speak of this, instead of putting his mouth on things they do not know”. In an even stronger tone was taken away by the minister of economic Development, Carlo Calenda: “Dijsselbloem is taking a gigantic blunder, which it does quite regularly,” he said speaking at a conference organized by Unipol on the themes of Welfare. “He does not understand, he added, Calenda – that the issue is not the constraints of the budget, 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”. Applies among other things to remember that according to the Oecd, in the next cique years, Italy would have scope for increasing public investment to 0.5% of Gdp; that is to say between 8 and 9 billion.
A confirmation of the clarity of the Government’s position on the european dynamic, the other evening the president of the Council, speaking of the management of migrants, had also announced that if the countries of eastern Europe do not fulfill their obligations, “on the 13th of December I’ll go to the Italian Parliament and ask permission to put the veto at the next european budget, and I hope that the other parties vote yes.”
on The 16th of last November, noting that the budgetary position of the euro area is neutral, as Brussels had announced that the fiscal stance must become moderately expansive, allowing for an increase in the deficit, the aggregate of 0.5% of Gdp (see Il Sole 24 Ore, November 17). According to a representative of the Dutch, “it is not wise to further stimulate the growth in a moment in which the output gap (i.e. the gap between real growth and potential growth, ed) is being reduced” in the various european countries.
the president of The Eurogroup has also noted that in urging countries to spend more Brussels could put at risk the correct application of the Pact. The reaction of the minister is not dissimilar from that of the president of the Ecb Mario Draghi (see The Sun 24 Hours yesterday). Speaking to Ansa, a spokesman for the Commission replied that the proposal of Brussels “takes full account of the requirements of the Covenant” and “signals the need to sustain the recovery in this moment.”
Behind the position of the president of the Eurogroup and Germany, also critical, you hide two considerations: the desire to avoid drifts to the accounts of the national public and the fear that the choice of the community may induce the countries with debts high-restrain their rehabilitation. Of the matter, the ministers will discuss on Monday in a ministerial meeting. The same monetary affairs commissioner Pierre Moscovici had said to predict a lively discussion.
Meanwhile, on the front of the vote on Sunday is intervened by the Berlin Finance minister Wolfgang Schäuble, the support of the Yes: “If I could vote in Italy, I would vote for Matteo Renzi, even if it is not part of my political family,” explained the politician, a christian democrat. “Has undertaken a number of reforms and transmits more confidence to be able to make the steps forward, which Italy urgently needs. For this I wish him every success”. Words that Renzi has obliged to minimize: “The votes that count are those of the italians” has cut short the leader Pd launched into a final battle because “the reform is all if he wins 50% plus one”.
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