it does not change but we discuss

Europe has decided to postpone the showdown and apply a temporary truce in order to dialogue with the last chance, in the hope that Italy, to use the expression of the French Minister of Finance Bruno Le Mayor, "seize the hand" by the European Commission and in any case change his maneuver. An attitude along the lines of the one brought to the Eurogroup by the Minister of Economy, Giovanni Tria, with the aim of reaching a solution acceptable to Rome and Brussels, while remaining within the framework of European procedures.

In fact, Italy is the message, does not want to break with the EU nor think that it is a threat to the euro zone, but at the same time is not the only one. Intention to change his maneuver and would like to see an "exception" in the existing rules.

The economic maneuver of Italy "does not change.We are debating: we must respond to the Commission before November 13. I do not answer here," said Tria in answering a question asked at the end of the 39 Eurogroup in Brussels.

The double deadline remains that of 13 and 21 November, when the first response will be Italy's response to the Commission, and after the new badessment of Brussels and its revised report on the Italian debt. That's why we are heading to Rome Wednesday for a leadership summit bringing together Prime Minister Giuseppe Conte, the two Deputy Prime Ministers Matteo Salvini and Luigi Di Maio, to study the response to be sent to Brussels. Although the political climate remains glowing, the Commissioner for Economic Affairs, Pierre Moscovici, and the head of the League, accused of nationalism and xenophobia to count a new blow.

"Salvini is constantly on the border of nationalism and xenophobia," said the French commissioner. "More
insult me ​​- says the head of the league – this gentleman has nothing to do? In the meantime, I'm going forward. " Sparks have also seen the responses of Deputy Prime Minister Luigi di Maio and the chairman of the council, Giuseppe Conte, but do not seem to have influenced the European comparison.

"Dialogue, dialogue, dialogue" is the repeated mantra at the Eurogroup both by Commissioner Moscovici and by fellow Europeans, including the "Falchì of Holland and Germany". If however the Eurogroup does not adopt any decision for today, the warning sent to Rome is clear: yes to a debate, but Italy must include its maneuver in the rules from the EU.
cooperate with the Commission, which all 18 support. "Italy must submit a new draft budget, which we expect, in the hope that steps will be taken" to align the maneuver "on the EU's fiscal rules", has clearly warned the president of the Eurogroup, Mario Centeno. The idea was also reiterated during the bilateral meeting between Moscovici and Tria: "I am confident – said the Commissioner – that the minister understood the need for Italy to act in the context European tax rules ".

The situation created with Italy is in fact also the stony guest of the reform of the euro area, more and more
in trouble and on which instead Paris is pushing, said The Mayor, to "make decisions by the end of the year". Non-compliance with budget rules, however, has always been an obstacle for Northern countries that share risks, a serious obstacle. "I am afraid that the approach and measures taken by the Italian government are jeopardizing these objectives," said Slovak Minister Peter Kazimir. And also because, said the Irish colleague who suffered in 2010 a treatment "ripping and bloody" to save his banks and the euro, "one of the painful lessons of the economic crisis that we have learned is that, if you share with many other countries, we all have a responsibility to others. " The Eurogroup and the Commission, which, among other things, do not communicate the Italian deficit and GDP estimates, remain skeptical about Italy's promises to bring the accounts back to national accounts.
order from 2020, after 2019 for which an exception should be granted on the return of deficit and debt.

The comparison between Tria and colleagues from the Eurogroup has been calm and the result is that the phase of confrontation with the European Commission is now starting to find a compromise on the 2019 Finance Act, sources told the Italian Ministry of Finance. Finance who had informed of the meeting. Ministers of Monetary Union on the case of Italy. The Treasury is not out of balance as to the content of the possible compromise: according to the same sources, Tria defended the government's maneuver by explaining the Italian point of view: namely that there is a deviation from the accounts public but not serious. According to the Commission, "this is unprecedented" and "serious".

The tension in Europe on the Italian maneuver however remains high. "Our position" on the Italian maneuver "is clear from the beginning, we are waiting for the rules to be respected" because, in the EU, "we need a fair and common approach to these rules". This is how the Austrian Minister of Finance, Hartwig Loeger, arrived today at the Eurogroup. "I hope that Minister Tria will give me more information today, and that we may be able to understand the thinking of Italy," he added, in a statement. waiting for a "reaction" from the Commission. "It remains 13 hours to see what will be the response of Italy".

"I fear that the approach and actions taken by the Italian government are jeopardizing these goals" of "the completion of the architecture" of the euro area, "this is my concern". Thus, the Slovak Minister of Finance, Peter Kazimir, on his arrival at the Eurogroup, said "pretty sure that Giovanni (Tria, ed.) Knows the current situation well". "I am convinced that we are part of a rules-based club, which it is up to the European Commission to enforce and that the Commission enjoys my full support," he added.

"I do not think the maneuver is good" for the Italian people "because if the result is to increase the debt, it will ultimately be the poorest who will have to pay, so this is not a good budget for the people, "said Mr Moscovici. convinced that Tria understood that Italy had to act in the rules, "but it is up to him to say it". On the argument put forward by the Italian Government that budget expansion will lead to greater economic growth and a reduction in the debt-to-GDP ratio, the Commissioner said: "I will be a diplomat. This is not necessarily about spending more money, but getting more growth and less debt, I think it's an economic reasoning that we need to discuss. "

"Freedom of ideas is important, but I expect a very cautious European Commissioner to make statements with a clear political connotation.I want to speak in the appropriate fora and I do not do not even want to think that the Commission will be influenced by political arguments, "said Prime Minister Giuseppe Conte at a press conference with Algerian Prime Minister Ahmed Ouyahia, responding to a question asked about Moscovici's statements.

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