The position paper of the Italian Government which outlines a medium-term strategy to try to get the European Community out of the deep crisis it is in, contains various innovative proposals which represent the building blocks of a framework capable of advancing European integration along steps to be pursued consistently. The Italian document, in fact, indicates a way to overcome the sterile opposition between the countries of the North which demand complete homogeneity between the economies of the various countries before proceeding with the mutualisation of risks, and those of the South which are accused of wanting the transfer of risks to the stronger countries precisely to avoid adopting those internal policies which allow the recovery of competitiveness and the reduction of debts.
Luigi Paganetto, professor emeritus of economics and president of the Tor Vergata Foundation, has long ago created an interdisciplinary working group with economists, jurists, public and private managers, to put forward ideas and proposals capable of "revitalizing anemic Europe". In particular, in the meeting of 12 February some ideas emerged, such as that of creating a common fiscal space to address the issue of immigration, which a few days later was adopted by the government and in fact figures as one of the qualifying points of the paper by Minister Padoan.
first online – Europe appears on the verge of disintegration. Each country tries to go it alone both in the field of immigration where attempts to close themselves within national borders are prevailing, and in the field of public finances where the demand for greater national autonomy is met with ever more stringent rules which overall end up to accentuate the economic depression not only in the weak countries, but also in the stronger ones. Is there a way that allows us to overcome the sterile conflicts and face together the challenges we have before us?
Paganetto – Immigration as a problem must be seen as an opportunity. The agreements reached so far on quotas and aid to the countries from which the migrants come do not work and in any case do not address the structural aspects of the problem. Suffice it to say that, contrary to common opinion, the increase in income that aid should determine in the countries of origin will produce an increase in flows and NOT a reduction. We therefore need a strategic agreement that makes control over the "common borders" the real starting point for a European integration policy, with an agreement including a fiscal one to bear the costs. The Brussels authorities should therefore be the ones to manage the common resources to make an overall immigration policy. And this could also give a new boost to the growth of all European countries which today is anemic also due to generalized restrictive public budget policies.
first online – This is therefore the first nucleus of a common fiscal policy which, moreover, transforms an emergency which risks destroying Europe into an opportunity to resume the path of integration, through a rational and satisfactory solution for all countries of a problem, that of immigrants, which risks having disruptive consequences not only economic, but above all social and political. But this process of recovering a more sustained growth rate must also have other legs, such as that of investments.
Paganetto – Investments and industrial policy are needed. As regards the first point, it is clear that the Juncker plan is not working as hoped. It is possible to get out of the crisis with a plan much larger than Juncker's, oriented towards a policy towards industry 4.0 and also allowing country-investments freed from the 3% constraint. To guarantee the effectiveness of these investments, a rigorous cost-benefit analysis must be carried out by international organizations in order to avoid wasting money in patronage works, or those that do not take priority over the need to increase the competitiveness of a given area. But this is not enough. It is necessary to create an industrial policy aimed at supporting innovation in the medium term, also strengthening the qualification of workers. The financing of this type of industrial policy should be a second way to create a common fiscal space at European level. And this type of approach could also find attentive ears in Germany where the industrial issue is considered of great interest. After all, even with regard to immigrants, a European solution could take the chestnuts out of Merkel's fire.
first online – The Italian project for strengthening the EU also envisages the establishment of a European economy minister provided that he not only has the function of controlling the public finances of the various states, but is endowed with adequate common resources to set up an economic policy capable of overcome the quasi-stagnation of the whole continent which according to the IMF should grow by only 1% on average in the medium term.
Paganetto – Unfortunately, I believe that the idea of creating an EU finance minister, attractive in itself, ends up re-proposing the "vexated question" relating to the common fiscal space, with regard to which the conflict today appears incurable. Some countries see this finance minister as a mere controller of the accounts and others would instead like him to be capable of developing policies capable of favoring more growth and more integration. To avoid slipping into a dead-end debate, it would therefore be appropriate to identify alternative strategies such as those indicated which transform extremely serious problems into common solutions. Just the emergency could bring down the most bitter and ideological conflicts by offering the possibility of a compromise convenient for everyone.
