Franco Bechis: “Renzi and Gentiloni have put Italy in trouble”
(by Franco Bechis) – Italy is officially in trouble, because yesterday the European Commission started the procedure for excessive debt. He did this by writing a report 21 pages, which contains a surprise: the formal basis of the dispute has little or nothing to do with the maneuver of the government led by Giuseppe Conte, because it is relative to the result of the public debt over the years 2016 e 2017. So it was Matteo Renzi and Paolo Gentiloni who got Italy into trouble. The infringement procedure is the Democratic Party's last wonderful gift to Italians.
Here is the key passage from that document: “Based on reported data and autumn forecasts 2018 of the Commission, Italy did not respect the debt reduction parameter in 2016 (gap del 5,2% of GDP) or in 2017 (gap del 6,6% of GDP)”. And again: “overall, Italy's lack of compliance with the debt reduction benchmark in 2017 provides evidence of the prima facie existence of an excessive deficit within the meaning of the Stability and Growth Pact, considering all the factors as set out below. Furthermore, based on government plans and autumn forecasts 2018 of the Commission, Italy should not meet the debt reduction benchmark in 2018 or in 2019”.
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Of Maurizio Blondet
FIFTH COLUMN