Here is the intervention at Palazzo Madama by Alberto Bagnai, president of the Senate Finance and Treasury Committee, economist and senator of the League, on the maneuver
«A balance of 2,4% it would have been great in terms of sustainability. What bothers Europe is that we now have less subordination". As Alberto Bagnai, president of the Senate Finance and Treasury Committee, as well as the economic mind of the League, spoke in the Chamber of Palazzo Madama on the government's maneuver.
After negotiations with Brussels, the deficit/GDP ratio, initially set by the executive at 2,4%, was leveled to the 2,04%. A move that the opposition branded as a reverse. The majority, from the mouth of one of its most authoritative exponents in the economic field, he counterattacked.
Two targets were chosen by the economist and Northern League senator: Europe itself and previous governments, judged to be subservient to Brussels.

«We are resisting – said Bagnai -. President Conte, which you have variously described as non-existent, unrealistic, defeated, in reality he did seriously what previous governments had only done by talking about it: he negotiated with Europe, without compromising the interest of the country. And he also did a work of mercy: visit the sick, because it is clear that the Union is profoundly ill".

«ABSORBENT AND OPAQUE RULES»

Bagnai, However, he granted something. «It is clear that more could have been achieved, however what happened highlighted the absurdity of European rules, in particular their procyclical character. We were told that our growth forecasts were wrong, that we should have made more realistic projections, but the truth is different. Unfortunately, Europe is based on opaque mechanisms, therefore it was necessary to revise the growth estimate downwards to prove a condition of necessity, the so-called output gap, without which Europe would not have magnanimously allowed us to have more resources to revive the country. Unfortunately the problem is that if they ask you to reduce the growth, the resources are a share of that growth and therefore Europe always forces you to make less effort than what would be necessary. These are the miracles of structural balances". Bagnai added that, compared to current accounting rules, «it would have been better to stick to the rule of 3% on the nominal balance, which had two advantages: be transparent and verifiable. Here we are talking about predictions, of hypotheses, of estimates, and we are mortgaging the future of the country on this".

THE FRANCO-GERMAN CONFLICTS

A rule, that of 3% of the ratio between nominal budget balance and nominal GDP, which France allegedly violated 13 volte, in turn risking infringement proceedings, the Lega economist remarked. And according to Bagnai, Italy could have taken advantage of the "conflicts that are emerging within Europe". «It is perhaps the only argument that I would have accepted from the opposition – argued the Northern League senator and president of the Senate Finance and Treasury commission – Given that the conflicts were about to emerge, perhaps this would have advised a more prudent attitude. Wait for others, in this wonderful European family, they fought among themselves, without them having pretexts to attribute to us critical issues that do not depend on us".
source – https://www.startmag.it/economia/alberto-bagnai-lega-manovra-francia/