Brussels tomb budgets italians, and demands the referral of a new text, with a maximum period of three weeks
Italy already concerned about the European Union that Greece
The Italian Government prepares for war with Brussels, after this Tuesday, the European Commission refused to formally consider the draft Budgets italians in a decision without precedent. Since the EU’s demand to Rome to present a new document within three weeks since the sent last week in breach of the deficit reduction required of the country. But the coalition Government formed by the Five Stars Movement and the League has already announced that there is no alternative.
“they’re Not attacking a government, but a people”, launched this Tuesday the minister of Interior and leader of the League, Matteo Salvini, on the sidelines of his official visit to Bucharest. “These are things that do irritate still more the italians and then there are those who regrets that the European Union is set to the minimum of its popularity,” added the vice president of the Government.
In an interview to Bloomberg, the Italian prime minister Giuseppe Conte said Tuesday that “there is no plan B” and that the Government will not accept “changes in the fundamentals of the Budget”.
In the accounts for the 2019 Italian Government expected an increase in public spending in order to meet the electoral promises of the two parties that currently form part of the Executive. Among other measures, the Government plans to introduce an income of citizenship of 780 euros for the unemployed and pensioners with minimum pensions, or a significant reduction of taxes. To do so, it estimated a deficit of 2.4% of GDP, triple the amount of what has been agreed by the previous Government of center-left, despite the fact that “this approach to the Budget is not in line with the Stability and Growth Pact”, as he admitted this Monday the minister of Economy Italian, Giovanni Tria, in his letter of response to the previous warnings from the Commission. “It has been a difficult decision but necessary,” added the owner of Finance trans.
The first effects of the rejection of Brussels left their imprint on the risk premium Italian –which measures the spread between the Italian bond to ten years and the German of the same period– which on Tuesday climbed to 320 basis points. The Milan stock exchange, for its part, declined over 1%.
“we Must overcome the fear, the only thing we have to fear now is fear,” said the minister of Labour and leader of the Movement Five Stars, Luigi Di Maio, in relation to the increase of the risk premium.
Di Maio, who is, together with Salvini, vice-president of the Government, insisted that they will not provide a happened back in the public accounts. “We know that we are the last dam in order to safeguard the social rights of the italians. And by that I do not disappoint. We know that if we rindiésemos, facilitate the return of the ‘experts’ in favor of the banks and austerity. And therefore we will not surrender. We know that we are on the right path and we will not stop”, he wrote on the social networking leader M5E after knowing the decision of the European Commission.
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