"As regards Italy, the eligibility criteria on the investment clause (which would allow greater flexibility on the accounts for 5,4-5,5 billion, ed.) should be met". This was stated by the European Commission in its assessment, published today in Brussels, on the draft financial laws that have been submitted to it by the countries of the Eurozone. The final judgment on the Italian maneuver, however, is postponed until spring.
"The Commission - reads the text - is of the opinion that Italy's budgetary plan is at risk of defaulting with the provisions of the Stability and Growth Pact", but "particular attention will be devoted to ascertaining whether a deviation from the adjustment path is effectively used to boost investment, coupled with credible plans to recover the adjustment path and progress on the reform agenda.
Only two countries, Italy and Finland, have applied to benefit from the "investment clause" envisaged by the EU's growth stability pact. And "only Italy is eligible" to use this clause, added the European Commissioner for Economic Affairs Pierre Moscovici.
In general, however, the Commission has postponed to next spring its assessments on the possibility that Italy will be granted all the margins of budgetary flexibility envisaged by the EU pact, on investments, reforms and the refugee emergency. This was explained by the Vice-President of the European Commission, Valdis Dombrovskis during the press conference to present the assessments on the 2016 budget plans.
