Thursday, February 2, 2017

Public accounts, before the discontent with the Eu, Padoan try the reverse: “Interventions no later than April” – Il fatto Quotidiano

not Even twenty hours after you have sent to Brussels a letter of response that returns correction of the public accounts and not specific to what will be, the minister, Pier Carlo Padoan engages the reverse gear. And, speaking to a Senate hall almost empty, explains that "the adjustment of the dynamics of the balance of public finance is the essential" and ensures that interventions are to be adopted "no later than by the end of April", but "it is very likely that some measures will be taken before the end".

the reason for The turn around is soon explained: the sources of the Commission have not hidden the dissatisfaction with the contents of the ambiguous letter received Wednesday, in which the Italian government does not explain whether it intends to reduce the debt of the 3.4 billion asked by the Eu and, indeed, anticipates that the new seismic events will require an outlay "very probably more than 1 billion euro, already in 2017". Suggesting that that figure should be separated from the effort structural asked to the Peninsula. Now the owner of via XX Settembre are afraid that the discontent with that response – the written, evidently, by taking account of the desired of the former premier Matteo Renzi – can lead to a procedure of infringement.

The result would be catastrophic and Padoan knows it well: "Would result in a reduction of sovereignty on policy choices and, above all, would result in costs higher for the public finance of the country" compared to the 3.4 billion of the required correction. As a result there would be "a subtraction of resources to the public, the growth andemployment, as a result of the likely higher interest rates" on the debt. In short, "the hypothesis of a possible infringement procedure is extremely alarming".

the fact Remains that the government, for reasons purely political view, the hypothesis of elections, has decided to intervene through a maneuver impromptu", but by the measures balanced adjustment and support" of growth. And not immediately, but in the spring. Choice to which the Commission will respond with a decision, inevitably, just as policy, taking into account the fact that if Italy will go to the polls before the end of the term commitments of the Customers and Padoan will in fact be zeroed out, and the ballet will start with a new executive. In this framework, the details of the day after they leave the time they find.

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