The target of Italian GDP deficit at 2,6% in 2014 “it was a goal compatible with different macro picture, but I repeat: us we will respect the constraints”. The Minister of Economy assured it, Pier Carlo Padoan, arriving at the Eurogroup meeting. "As the ECB itself admits in the bulletin - continued the number one of the Treasury - the macro picture is much worse than six months ago and there is an obvious mechanical implication for the public finances, but we will respect the commitments made", i.e. we will keep the deficit within 3% of GDP, the value established by the Maastricht Treaty.
According to the Italian minister, Europe “must put employment and growth at the center” of its agenda and “there is a strong convergence on the idea that investments are essential for growth (as underlined today also the president of the ECB, Mario Draghi, ed), the fundamental elements of which are structural reforms that improve the environment for businesses and more effective financing instruments to attract capital”.
Furthermore, on the pact for growth, “there is no resistance with the Germanyindeed, there is agreement”, added Padoan, remarking that “the pact for growth is everyone's proposal and is already on the table. These are structural reforms, the internal market and finance for growth”.
as to France, who on Tuesday again broke the agreement made with Brussels on the deficit front, admitting that the figure will not fall within the parameters in 2015 but only in 2017, Padoan underlined in a subtly polemical way that "Paris is Paris".
The new delay, in any case, will have to go through the scrutiny of the EU Commission, where the post of commissioner for economic and European affairs will be occupied by a Frenchman, Pierre Moscovici, whose activity will however be subject to the veto of the vice president Jyrki Katainen, penalty taker very close to Angela Merkel.
