Italy does not run risks. To say it is the Ministry of the Economy which, in a note, responds by return of post to remarks made by the European Commission. Indeed, the opinion on the draft Italian budget published today by Brussels underlined the risk that Italy, due to the trend of its debt to GDP ratio, which would not comply with the European stability pact, could lose the right to use of the "investment clause".
The note released by via XX Settembre explains that "the budget laws of all the countries of the Euro area do not substantially violate the obligations of the Stability and Growth Pact and that it is not necessary to request revisions of the budget plans". The assessment of the EU Commission, according to the Treasury, "comes from an estimate of growth of the Product that does not coincide with that of the Government".
To weigh down the Italian debt situation, then, there would be an operation agreed with Brussels, or the payment of the commercial debts of the PA, for a total of around 50 billion. According to the Treasury note, the Commission's opinion does not take into account "the important provisions announced by the Government, even if not formally included in the Stability Law, and already in the implementation phase". The reference is to the spending review, the reform of the tax system, privatizations and the return of capital abroad.
