Last night's dinner in Brussels between Prime Minister Giuseppe Conte and the President of the European Commission, Jean Claude Juncker, restarted the dialogue but, beyond the diplomatic truce, the distances on the merits of the Italian government's budget maneuver remain unchanged.
Conte, who was accompanied by Economy Minister Tria, presented himself with a document of 40 folders to illustrate the Italian position and tried to sweeten the meeting from the beginning ("Clima cordial. We are friends"), he asked Juncker not to start the infringement procedure for excessive debt which could cost Italy over 20 billion euros.
But Juncker, on behalf of the EU which was also represented by Eurocommissioners Moscovici and Dombrovskis, made the Italian request conditional on the reduction of the deficit by at least 6-7 billion, which would mean postponing for at least 6 months, i.e. until after the European elections , the start of the basic income and the pension advance through quota 100.
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But are Salvini's League and Di Maio's Five Stars willing to correct the maneuver that up to now they have always defended staunchly and considered unchangeable? A summit this afternoon at Palazzo Chigi between the two leaders and Prime Minister Conte will reveal the cards.
The negotiations between Italy and the EU will continue for weeks and it is unlikely that a verdict will be reached before mid-January and perhaps later but, beyond the conciliatory tone, the positions remain distant and, except for the Frenchman Moscovici, few seem willing lend a hand to a government like the yellow-green one which has so far responded contemptuously to the findings of Europe. It would be the first time that a country, moreover with Italy's political weight, falls under the trap of the infringement procedure which means sanctions but also and above all means a blow to the credibility and international reputation to which the markets, as seen in recent weeks, they watch with great attention. So much so that the spread is skyrocketing and the flight of capital from Italy continues.
