Maneuver: for the Eu, the Italian response would not be enough. Continue the dialogue – Firenze Post

BRUSSELS – The reactions are not officers of the environments of the Eu Commission regarding the Italian response is not exactly enthusiastic, indeed, the content of the letter of Padoan has raised many doubts, if not even irritation. “Not exactly what we expected”. At first glance, the letter sent by Padoan to commissioner Pierre Moscovici and to the vice-president Valdis Dombrovskis does not contain the one that the two had the required with their letter of 17 January last.

The letter to Brussels, urged the sending of “a list sufficiently detailed to specific commitments and a clear timetable for their adoption.” Several times in the past few days, several sources had warned: “we will Not be content of commitments in general. And the two and a half pages written from the Treasury seem to fall in this category. The sources ensure that the document dedicated to the “relevant Factors” “will be analyzed in the details”, but the expectations were.

it Is still early to predict the final outcome of this match. The mantra that resonated in the offices these days is that “at this point the numbers don’t leave many spaces for the guidelines alternative. But it is also true that Jean-Claude Juncker remarked, always with the pride of driving a political Commission. For this, there is the possibility that, in the end, the judgment is not the result of a mere calculation and accounting. So what could happen now?

it is Not expected a response letter from the part of the Commission, but a signal will arrive surely on the 13th of February. That day, the Eu executive will publish its economic forecast winter for the euro area. From the figures which will show in the table for Italy, especially in the rows reserved for the public debt and the structural deficit, you will understand if the promises contained in the letter sent yesterday by the Treasury will be perceived as credible or not. Then there will be the long-awaited report on the debt ratio and the country-by-Country, expected towards the end of February. If the Commission is not satisfied, and therefore believe that the financial statements do not conform to the rules of public finance, the opening of the proceedings would be inevitable.

In the meantime, there are still contacts between Pier Carlo Padoan, and the Commission, in particular with Pierre Moscovici.