The eu, Moscovici opens on the flexibility – The Sun 24 Hours

WASHINGTON

the Opening of the european Commission on the flexibility in the public accounts for Countries such as Italy, against expenses such as those related to the earthquake in the reception of refugees, within the framework of the european rules already laid down.

The commissioner for economic affairs, Pierre Moscovici at a meeting in Washington organised by the Atlantic Council, a think tank, has argued, however, that this is not a novelty.

“We have said clearly what is the flexibility in January 2015, he said Moscovici, who not for the first time proves to be attentive to the arguments of the Italian Government – we must encourage the Countries that create investments, and we have done with Italy. Help Countries which carry out structural reforms, so that they can have more time, and we did it with Italy. We said that we would be ready to consider costs for the refugee crisis or the earthquake, or a Country that suffers from terrorist attacks, such as Belgium. It is the flexibility of precise, limited, and clearly explained. In general, a Country must meet the criteria and reduce the public debt, is the main problem of Italy and Belgium”.

The monetary Fund in its forecasts this week, has estimated that the Italian public debt will grow from 132,7% of the gross domestic product in 2015 to reach 133.2% of 2016 until 133,4% in 2017, and then take a slow down. In 2021 will still be at 125% of Gdp.

Moscovici has said also, “I’m confident that Italy, as always, he’ll manage”, and with regard to the budget problems, both those of the banks. Both issues, he recalled the former French minister, is at the centre of discussions between the Commission and the Italian Government. According to Moscovici, in Italy there’s “a threat populist. That’s why we support the efforts of the president of the Council Matteo Renzi, because Italy is a strong partner within the european Union”.

The question of the public accounts, however, concerns not only Italy. In addition to France, by that time transcended the limits fixed by the european rules, in recent months the Commission has recognized a violation by Spain and Portugal, but in the end decided not to impose sanctions. “This commission, he said, does not want to sanction. Sanctions are always a failure. It would be for the rules because shows that do not work, it would be for the Country.” According to Moscovici, it is better instead to start a dialogue with the Countries concerned.

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