Days of tension for the Monti government, grappling with the first economic maneuver of its mandate. According to the rumors leaked by the technicians, the provision should apply overall 20 billion euros. Among these, also the 4 billion of the fiscal delegation.
The final figure would have been established in the light of the latest OECD forecasts, who estimate a contraction of 0,5% for the Italian GDP in 2012.
Among the various measures under study, two surprises could arrive on the pension front:
- Raising the threshold for old-age pensions. There is talk of new requirements for retirement from 41 to 43 years of contributions. To date, the threshold is fixed at 40 years.
- Blocked recovery of pension inflation in 2012. The intervention would generate a revenue of 5-6 billion, including the blocking of the equalization already envisaged for the highest pensions.
In the meantime, continue the pressing of Brussels on the Government in Rome: "Additional measures are necessary to guarantee the announced deficit targets - reads the report on Italy that Olli Rehn, EU commissioner for economic and monetary affairs, will present to the Eurogroup tonight - and at the same time increase the fairness and efficiency of fiscal policy”.
According to Rehn, "recent progress represents a good basis on which to build a more ambitious reform program, which is necessary to boost growth and reduce economic vulnerabilities". Among the measures advocated by the Finn are a "faster" reduction in the cost of pensions, a shifting of the tax burden from work to consumption and ownership and fight against tax evasion.
The reform agenda “must be ambitious in terms of content and timetable – continues the report -, detailed, and anchored to a binding roadmap for its implementation. To maximize internal support and therefore its chances of success, it must also be inspired by the principles of equity and social justice".
