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Stability Pact, German wall against subsidies for Italy. Total clash

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Stability Pact, German wall against subsidies for Italy.  Total clash

Stability pact, Scholz does not give in: Europe’s eyes on the Italy-Germany clash

Between Italia e Germania continues to be there voltagethe question migrants pours over the new rules for the Stability pact. The Germans rejected the Spanish mediation attempt. Negotiations to define are expected to be tight the maximum amount of investments, calculated in GDP points, which may be excluded from the expenditure calculation. At the same time – we read in La Stampa – it will not be easy to find the number that establishes the size of the minimum debt cut required of countries that exceed 60%. Berlin had asked for 1%, Spain remained vague in the mediation document and indicated one X”. But, beyond the number, the German government is ready to also contest the wording contained in the Spanish proposal, considered too ambiguous because it talks about “a minimum average annual reduction of at least XX points”.

The proposal of compromise on the reform of the Stability Pact, presented by the Spanish presidency of the European Union, – continues La Stampa – was welcomed with a certain satisfaction in Rome. In fact, it was noted at the Ministry of Economy and Finance that the four-page document meets Italian requests because it incorporates all the points presented at the Ecofin in Santiago de Compostela by Minister Giancarlo Giorgetti. Especially the part relating to the separation of investments. But to understand that the The road to agreement is still tortuous the first meeting between the leaders of the 27 ministries, who met yesterday at Madrid precisely to examine the compromise proposal.

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According to reports from European diplomatic sources, the German government is far from satisfied with the Spanish mediation. And this despite Madrid having decided to include one in its proposal safeguard clause to guarantee a minimum annual debt cut. The arm wrestling It therefore seems to have started yesterday on a technical level destined to last a long time. As for the Migration and asylum pactthe reform of budget rules is also at stake above all between Italy and Germanythe two countries that currently find themselves at the ends of the table.

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