Unfortunately, Italy continues to flaunt the rules of the Stability Pact, so an excessive deficit procedure is logical. A common currency needs common rules, and we will only have stable Eurozone if the rules are adhered to.
“However, while the Commission is forced to act, it must ensure that the Italian people do not suffer at the will of the market or the whims of their fractious government. Prime Minister Conte’s appeal to revise common budget rules should be listened to carefully, as governments need more scope for spending during crises and incentives for investment as well as binding rules for reserves during the good times.”
Source link Google News