"I am not aware of the intention to grant extensions to other countries" to report the public deficit below the 3% parameter. So he replied Olivier Bailly, European Commission spokesman, to those who asked him whether Holland and Italy will also be granted the time extension already granted to Portugal, France and Spain.
“We and the Eurogroup evaluate each time the budgets and situations of the individual countries – continued Bailly -. We have indicated an opening towards France and Spain, already announced by Commissioner Olli Rehn, and President Barroso has done the same for Portugal”.
The official decisions from Brussels, however, will come only with the EU spring economic forecasts, after the publication of the final data on the 2012 deficit by Eurostat on 22 April and the presentation of the budget and national reform plans by the 27 countries EU expected by the end of April.
On the other hand, so far, Italy has not submitted any formal request for more time. If Eurostat confirms the 2012 deficit at 2,9%, Europe could close the excessive deficit procedure against our country, provided that forecasts remain below the 3% threshold for the next two years as well.
Last week the Treasury Secretary, Victor Grilli, had underlined before the Parliament that the objective of the structural balance of the budget "will be achieved" despite the provision for the payment to businesses of a part of the debts of the public administration. The government "is not financing public spending - Grilli explained - but paying for investments already made".
as to France, if he wants to obtain more time, he will have to demonstrate that he can reduce the deficit by 1% at a structural level between 2010 and 2013, undertaking to bring the nominal deficit "significantly below 3%" in 2014.
