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Italy makes a mockery of the EU budget dispute

Italy's interior Minister, Salvini has made it clear that he doesn't care about the EU-imposed debt ceiling. Because Brussels has urged the country to Save, points to a crucial test.

deficit rules, debt, the warning letter from the EU Commission in the budget dispute - Italy's interior Minister Matteo Salvini of the right-wing Lega this is all no matter. Or at least he does so:

"The time of the letter from Brussels is over, the time is: You were angry and need to sit behind the chalkboard. And for the next ten years loser to stay a poor Work, because the European rules are. No!"

It is a fight announcement of Salvini and the EU, shortly after the European elections in which his party in Italy was, for the first time the strongest power. The EU requires that the new debt of a country must not exceed three percent Salvini wants to abolish this rule. And although Italy's government debt is about 130 percent, more than twice as high as the EU allows: wants to Save Salvini actually, instead Jobprogramme with new loans, Finance, because:

"The only measure to reduce the debt, invest in the work."

No money for Salvini's prestige projects

And then there is the prestige project of the Lega: the unit control is still there. 15 percent to the amount to, for all. A project is likely to cost around 30 million euros. On the question of where the money will come, answers Salvini: Due to the expected economic growth, Italy was the million expenses quickly back in.

The Governor of the Italian Central Bank, Ignazio Visco.

The all see also Ignazio Visco, the head of the Italian Central Bank. He believes: to increase The public deficit, is not likely to be particularly effective, perhaps even harmful. And Visco warns, all the blame for Italy's economy simply will not grow properly, to slide on the EU.

"The growth of Italy's weakness lies in the last twenty years, neither the EU nor the Euro. Almost all member States have made it better than we do. What is today sometimes seen as the cost of the participation in the Euro, is in reality the result of our delayed response to technological change and the global Opening of markets."

Contes Ultimatum

And in Italy, non-party Prime Minister, Giuseppe Conte? The is seen by many only as a puppet. But now Conte has positioned itself clearly, has called the populist coalition government of the Northern League and Five star movement to the right, has threatened to resign. And to regulate also the Fault of the EU known:

"A balanced budget will not create imposed only by the European rules, which will remain in force until we change it. But the fact that we our state's need to Finance debt in the markets. Therefore, we are dependent on the confidence of investors."

Commission been sent, after some back and Forth and, apparently, several times rewritten. In it: Not much more than weak promises That Italy will review its expenditure, that the budget will be in the coming year, in line with the deficit rules of the EU. And so Italy waits anxiously to see whether these statements of the EU are rich Commission.

the EU Commission warns Italy, 29.05.2019 Italy's head of government threatens with resignation, 03.06.2019 news Atlas |Italy |Rome

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