No rejection of the stability law which passes the first test in Europe. The EU Commission has not detected "serious violations" of the rules in the 2015 budget plans of Italy and France but is not yet ready to promote them: the commissioner for economic affairs and EU vice president Jyrki Katainen refers to the full judgment in November, which he will highlight the "shortcomings and risks" of the plans on which he has expressed doubts from the outset.
However, he will no longer be the one to deal with the dossier: from November XNUMX, control of public finances will pass into the hands of the French socialist Pierre Moscovici, and many hope that the line of rigid compliance with the rules will soften. For Rome and Paris, a first and important point is still scored.
Economy Minister Pier Carlo Padoan speaks of an “open dialogue with the commission which also marks the features of a new Europe. “The recognition of the substantial consistency of our budget with the regulatory framework of the European Union – affirms the Italian minister – means that Europe too is on the road to growth and the creation of new jobs”.
The Commission gives the green light to the maneuver after the correction of the deficit has been increased by 0,3 points, thus reaching 2,6%. For the structural deficit, on the other hand, the correction is even higher than 0,3%.
"A remarkable effort after 3 years of recession", said the minister Pier Carlo Padoan who welcomed the decision of the hawk Katainen as the prelude to a new Europe now "on the path of development and employment growth". Certainly he admits: the infringement procedure has not yet been averted and the major correction takes away resources to push growth.
Yesterday the Council of Ministers approved the correction to the Def (Economics and Finance Document) which takes into account the corrections requested by Europe and which is now arriving in Parliament. Consequently, the start of the budget session on the 2015 Stability Law will be postponed by a few days.
