The European Commission said next year's draft budgets for France and Italy...
STRASBOURG - The European Commission said next year’s draft budgets for France and Italy could be in breach of European Union fiscal rules and it asked for clarification by Wednesday in letters sent to the countries’ finance ministers.
The EU’s move on Italy is seen as necessary, given Rome’s plans to spend more to boost growth, but it is unlikely to lead to a repeat of last year’s standoff, when Brussels forced Italy’s former eurosceptic government to amend its budget to avoid sanctions after a prolonged tussle that hit markets. Brussels wants Italy’s finance minister Roberto Gualtieri to explain why according to his draft budget the country’s structural balance, which excludes one-off revenues and expenditures, would worsen by 0.1% of output instead of improving by 0.6% as requested by the EU.
If granted, as widely expected after Rome’s request, the flexibility could allow Italy to deviate from fiscal targets without breaching EU fiscal rules.Brussels sent similar warnings to French Finance Minister Bruno Le Maire, saying under the existing draft budget that Paris would breach EU rules on public debts.
FILE PHOTO: European Commissioner Pierre Moscovici during a news conference at the EU Commission headquarters in Brussels, Belgium, July 10, 2019. REUTERS/Francois Lenoir
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Milan seeks US apology: WWII bomb hit elementary school in Italy
Weiterlesen »
Showrunner Stefano Voltaggio on Netflix’s ‘Zero’ About Black Youths in Italy (EXCLUSIVE)Netflix recently announced a new Italian original titled “Zero” that will mark the first Italian series centered around the present-day lives of black Italian youths. “Zero” is based on several boo…
Weiterlesen »
Variety Announces Launch of Variety ItalyVariety has announced the launch of Variety Italy, a new Italian-language international edition that will feature original as well as syndicated Variety content geared towards an Italian audience. …
Weiterlesen »
Wales ride their luck to steal dramatic one-point win over 14-man FranceWales rode their luck to advance to their third World Cup semi-final when Ross M...
Weiterlesen »
EU's incoming economy chief calls for less restrictive budget policiesThe European Union needs looser budgetary policies and an overhaul of its fiscal...
Weiterlesen »
EU revises up German 2018 budget surplus, next year's easing seen smallThe European Union's statistics agency revised up Germany's budget sur...
Weiterlesen »