Thursday , May 13 2021

MILANO – Budget law does not change: challenge is the Italian government of the European Union, which gave up until last night explain the damages predicted by the financial movement on the deficit / GDP targets and on reducing the debt. Brussels had previously rejected the text to request a one that was re-examined. But the letter sent by the government overnight to the Commission does not change the objectives on the deficit and the CMC. It is only accepted to reduce the debt, thanks to the € 18 billion real estate privatization scheme.

in reproduction.

Here are the letter points

The main news includes government commitment to reduce the debt / GDP ratio to 126% in 2021 thanks to a plan to privatize public assets. "Given these revenue – the document says – and its impact on lower debt issues on the market, and therefore less interest, the debt / GDP ratio would be down to is even more pronounced and equal to 0.3 points this year: 1.7 points in 2019, 1.9 in 2020 and 1.4 in 2021 ". "Report & report – we will read again – will decrease from 131.2% in 2017 to 126% in 2021".

EU LETTER LETTER

In the text in Brussels, Minister for the Economy Giovanni Tria announces that the government will invest one billion in 2019 for the security and maintenance of the infrastructure of the road network, bridges, bridges and tunnels. "The interventions – read – will be worrying that the work will be realized in the same period or precedent of the Morandi Bridge".

"To oppose the hydraulic instability and uncommon network maintenance and road links, government calls for flexibility for exceptional events". "For the next three years," writes Tria, exceptional expenses will be "equal to some 0.2% of GDP", about 3.6 billion, due to bad weather damage.

Di Maio: "Disposal does not include family jewelery"

"In the letter to Brussels, we wrote that we are increasing the real estate recovery, we are committed to maintaining 2.4 defects but income and pensions, quota 100, repayments to fraudulent savings do not change and go ahead ", explains the deputy principal Luigi Di Maio. The extinguishes, says Di Maio, "Do not include family games", but only small real estate. Yet, according to the sources of the Alliance, sales are worth 1% of GDP. "We will bring the emergency decree, which is inside Genoa and Ischia," home, adds Di Maio.

Protection clauses have been included in the EU letter to prevent the deficit rising above 2.4% if the government's growth prospects are not confirmed and also the operation of new real estate disposal: the rest will be confirmed such as "plant and political action". He also confirmed a mechanism of spending controls. The money allocated to hydraulic instability also increases.

CMC is constantly 1.5%

Growth objectives remain unchanged. Although technical body hearings on Monday have unanimously aimed at the estimates (+ 1.5% for the government in 2019), in the light of the very different numbers presented by the Union in the recent update of macro estimates.

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Merkel: "Individual choices have effects on everyone"

Also in Germany we are looking at the Italian game, with different aspects in the same executive. And chancellor Angela Merkel, in the European Parliament, recalls the concept of joint responsibility: in the EU "individual and individual decisions have an impact on everyone" and in this sense "only when each member of a member country can use the financial stability that bases the single single currency respecting its responsibility for financial stability ".

According to Merkel, "equality goes in hand with responsibility for members of the whole community". Then, the chancellor said "Italy is a well-established EU country and has decided with the rules with the" and on Budget law "rules, it is important to find a solution and there is & It's important to do in dialogue with the Commission said the main Conte ".

Instead, there was some kind of defense & # 39; from the Lega and M5s intentions from the minister Olaf Scholz, Finance owner: "We probably can not reach everything, but perhaps we could think a bit more European … Who has known until recently that that is in a well-established EU country, an industrial economy successful, Is the government trying to do something like this: it's possible that it is huge what you would like to do all, but in the face of the fact that you want to solve such a question as a society, you can not answer as you come to think ".

Topics:
Moving 2019
public accounts
public debt

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