Monday, August 11, 2014

Renzi, 2014 closes 2.9% .On reforms I decide not Troika – ANSA.it

Renzi, 2014 closes 2.9% .On reforms I decide not Troika – ANSA.it

(ANSAmed) – ROME – Italy will go ahead on the path of reforms already laid in the fall and will be presented in Europe with accounts in order and without the syndrome of the last class. “On the reforms I decide, not the Troika, not the ECB, not the European Commission” Matteo Renzi makes it clear in an interview with the Financial Times, ensuring that, despite the economic picture is complicated by the recession still in place, 2014 will close with the deficit / GDP ratio “at 2.9%.”

Of course, higher than the government had estimated in Def (the forecast was 2.6%) but below the EU’s 3% stake, which is “a rule old, but it ‘s a matter of credibility and reputation, “said the premier, aware that it is in Brussels, bolstered by the election result only in the framework of the eurozone, will play the bulk of the game. But Italy, ensures Renzi, has every chance to succeed: “We will bring Italy out of the crisis: Italy has a great future, the Italian finances are under control and we will continue to reduce taxes. Revolutionary We will do things.”

Mario Draghi, he explained in an interview with La Stampa, says that “if it does not reform Italy’s attractiveness for foreign investment. Well, this is also my line and Padoan. We agree, no problem. ” It is different if you interpret his words as the need for both Europe and Italy to indicate things to do.

Italy “does not need someone to explain what to do,” says even more tranchant. Nothing “pressures from Brussels” or the trio EU-IMF-ECB, in fact, but rather, will be “the States have to indicate to the Commission via e recipes to come out of the doldrums.” And the recipe can not be, and for all, focused on growth, with measures to promote investment and employment. Recipe that could be ‘topped’ by greater flexibility in Italy to ask for discounts but do not rush to get a little ‘more oxygen for the sprint to recovery.

Given the tight margins on public accounts, and the risk that the entire 2014 closes with a minus sign (but Renzi relies on a “better growth” in the second half of the year), the government’s attention is focused first of all on the spending review. From which you must get from one side of the shell ‘structural’ to make permanent bonus of 80 € (it takes about 10 billion), on the other resources that may be useful to ensure compliance with the 3% next year. 16 billion is the goal indicated by the premier and that will be detailed in the budget law for 2015.

To put in place the government will take all the available time (the deadline to submit is 10 October), because, you explained, there are two weeks at least to make a difference.

For the measures of the government spending review will have the dossier of the Commissioner Carlo Cottarelli (there is already the up on local participatory, with estimated savings of 2.3 billion by reducing them to 8 thousand in thousand in 3 years). Of course, at the moment, there is only that you will act with the ‘scalpel’, trying to avoid the linear cuts.

Another issue that could be included in the law of the stability of the flexibility in output, which would allow to give one side a structural response to situations such as those of esodati or unemployed and over fifty other places to release allowing the recruitment of young people.

On the debt front, however, with privatizations that struggling to take off, a hand could come from the enhancement of public buildings. Treasury are working through Invimit Sgr: starting from Inail (who has recently signed with a first tranche of EUR 440 million the fund of funds ‘Core i3′) but there are also projects on INPS and schools.

Of course, it is argued, the task is not simple because the public property “is not so attractive” given the complexity of management and the need to “resources for maintenance and enhancement.” But it is a first step, meanwhile, in a perspective of “rationalization”, and therefore cost savings. And later also to debt reduction. (ANSA).

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