the country is reminded of The dispute between the EU and Italy over fiscal policy is rekindled: The EU Commission because of its national debt – now a criminal case threatens. The ECB also sees problems.
The European Commission has sent Italy because of its state finances, a Reminder letter. The country had achieved in 2018, there is not sufficient progress towards compliance with the debt rules, wrote to EU Finance Commissioner Valdis Dombrovskis and EU economy Commissioner Pierre Moscovici in a letter to Finance Minister Giovanni Tria. The government of right-wing Lega and the populist Five-star movement in Rome to take up to Friday position.
Depending on the answer, the EU could Commission promptly opened a criminal case against the country in consideration. The authorities in Brussels will present next week its assessment of budgetary developments in all Euro-States.
Also, ECB has to issue
the EU Commissioner Vestager holds the rescue of the Italian Bank Tercas with state funds for unlawful.
The European Central Bank (ECB) also pointed to the debt problems of Italy. If the rules of the European Budget is not complied with, threatened him higher funding costs, which could put the brakes on the economy, said Central Bank Deputy chief, Luis de Guindos.
EU competition Commissioner Margrethe Vestager, a put in addition, an appeal against a judgment of the General court of the European Union. This had explained the rescue of the Italian Bank Tercas with state funds to be legal. The EU Commission had blocked the step 2015 as illegal aid, the court lifted the ban in March.
a months-long dispute
The Commission and Italy had quarreled in the past year for months about the financial policy of the country. The government in Rome had originally been aiming for 2019, significantly higher spending. The EU Commission and Euro group Finance Ministers saw this, but the Euro stability rules are violated and threatened sanctions procedures, with a possible billion met. In December, the Participants used this criminal case first, Rome had made sufficient concessions, it was said at the time.
Italy’s interior Minister Salvini wants to do even more debt.
Italy has one of the highest national debts in the world. In the third largest economy in the Euro Zone piled up according to the statistics Agency Eurostat and the end of 2018, a mountain of debt of more than 2.3 trillion euros. This corresponds to about 132 percent of economic output. Are allowed in the Euro-zone to a maximum of 60 percent. A state is, he needs to take a longer-term counter-measures to get its debt in the handle.
government in Rome wants to. easing the rules for
Italy’s right-wing populist Minister of the interior Matteo Salvini announced that his party will request that the ECB should, in future, guarantee for state debt He also provides EU budget rules in question to be able to cut taxes, without the need for strict output rules to adhere to. In this way, the economy could stimulate and the government could spend, among other things, money for schools, he said.
the EU and Italy in dispute, 19.12.2018 news Atlas |Belgium |Brussels, some in the household have your opinion meta.tagesschau.de
7 comments to a message
the Latest comment by ‘gold-Michel’s at the 29.05.2019 21:42 PM
Reminder ? Is
Dunning letter ? Also one of the other PIGS is because on-the-go ? All the brains of the Broke-France ?…
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