The Brexit-Drama is not the only challenge for the EU summit. Ironically, the former bearer of hope Macron has become the problem child – what to do with Italy.
By Ralph Sina, ARD-Studio Brussels
The Brexit is clearly topic No. 1 at the last EU summit in 2018, which takes place today and tomorrow in Brussels. But the concessions of the French President, Emmanuel Macron to the “yellow West”-protests to demand.
Macrons promise, from 2019, the basic monthly income to increase to one hundred Euro from the state Treasury, and not to a tax on Overtime hours and pensions under 2000 Euro best, tears inevitably huge holes in the state budget. Up to ten billion Euro per year, the expenditure amounts.
In a televised speech, President Macron was announced as a reaction to the “yellow West”protests in more spending for low-income earners and pensioners.
borrowing in France rises sharply
In his office, Macron had announced to hold a solid house, so that France can hold on to for the first Time in ten years to the deficit criteria of the stability and growth Pact. Now the French President is threatening to push the debt massively in the height of the planned 2.8 to up to 3.5 percent of the domestic economy performance in the coming year. A clear violation of the Three-percent deficit limit.
Macron plays his fiercest right – and left-populist opponents in Rome in the hands. If the EU is to accept the 2019 planned billion-more spending, Macrons, and at the same time, the Italian Budget-repellent, with more spending, then this would be the end of the EU, warned the European summit is already a member of the Italian government.
However, EU economic and monetary Affairs Commissioner Pierre Moscovici said the Italians that the French debts are far less than the Italian. In France, the total debt amounts to 97 percent of the economic output, however, in Italy, to 133 percent.
