Tuesday , April 20 2021

The Eurogrup closes behind the committee against the Italian government



Italy looks To continue on the collision course with the rest The European Union. Of the finance ministers of other countries in the euro area on their way to the Euro-African meeting on Monday, there were scuffling talks following a European Commission call and a new budget proposal next week.

French Finance Minister Bruno Le Meijer said the budget scam could endanger the euro, while Mario Santano, president of the euro group and finance minister of Portugal, said he hoped the Italian government would change the offer.

This message repeated itself During the press conference after the meeting.

"Ministers support the commission in every conclusion, encouraging Italy to cooperate with the commission," he said last weekend at a press conference with economic commissioner Pierre Moscovici and Klaus Riegling, head of the European Financial Stability Institute (EFSF).

He confirmed it An extraordinary Eurogroup meeting will be held on November 19, but said the Euro-Group will focus on issues other than Italy. Two days later, the European Commission will again take a stand on Italy's budget proposal.

European Commissioner Pierre Moscovici welcomed the support of other countries in the euro area and stressed that the budget is not on democratically elected leaders on the one hand and "faceless, faceless bureaucracy" on the other. He said that the European Commission is available for dialogue with the Italian government until next Tuesday when the new budget proposal is being presented.

"The ball is now on the plane of Italy," said Pierre Moskowitz.

The Italian Minister of Finance, and Bunny Treya Refused to leave comments on their way to the meeting. However, in an interview with The Financial Times published Sunday, the five-star party leader Luigi Di Mayo showed no signs of backing.

"If the recipe works here, it will be said at the European level: we should use Italy's recipe for all other countries," Luigi Di Maio told the newspaper.

Next Tuesday Week Italy should introduce a new draft budget. If the Italian government will continue to persevere, it could cause the EU Commission for the first time to punish a member state for the budget to violate the EU rules.

The EU Commission is considering now to make decisions to punish Italy next week, according to a number of sources Politics Policy. By focusing on the country's large sovereign debt rather than the government budget deficit proposed in 2019, the process could begin earlier.


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