Moscovici: “the Ball is on the side of Italy”

Московиси: "Мяч на стороне Италии"

“The ball is on the side of Italy,” said evrokomissar on Economics and Finance, leaving Rome after a two-day visit. Pierre Moscovici brought a letter to the European Commission with a warning that the new Italian budget, drawn up with a deficit of 2.4% is unacceptable, as it violates EU rules. In Brussels expect that Rome will give their explanations to the 22 October.

“Our questions relate to the overall budget, financing new measures, and how it will affect the Italian economy, on taxpayers in the coming years. […] We know that the situation is delicate, no one is interested in creating problems. We must make every effort to avoid rising tensions. Now a word for the Italian authorities,” said Moscovici, leaving Rome.

At the last EU summit in Brussels, Prime Minister of Italy, Giuseppe Conte refused to revise the draft budget. In Rome believe that it will benefit the economy, and the austerity regime, which insists the European Commission, called “ineffective.”

“You ask about the budget? I said that there is no need to change it. We sat down at the negotiating table with the European Commission, and this letter which some considered a final rejection of the draft budget are only the beginning of the process. On Monday, we will reply, and then start discussion and debate,” – said on Friday Conte.

Italy is second after Greece’s public debt, and the European “stability Pact” countries with high public debt should not approve a budget with a deficit above 1.5%. The national debt should not exceed 60% of GDP, and in Italy it is 130%.

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