“The Stability Pact is far from being concluded and, in fact, I give you some news: I really think that on December 14th we will not discuss the ESM”. The leader of the League in the Chamber, Riccardo Molinari, closes the door on the European Stability Mechanism that Italy has not yet ratified. The Northern League supporter on Maria Latella’s “Sunday Coffee” on Radio 24 argues: “I will explain why Minister Giorgetti rightly pointed out that it is on the calendar, but there are measures that come first. It’s an outdated instrument, but let’s wait to understand Meloni’s instructions on the subject.”
The Northern League’s position, reiterated by Molinari, is known. Paolo Barelli, leader of the Forza Italia group in the Chamber, interviewed by Affaritaliani about the discussion in the Chamber on the ratification of the MEE scheduled for Thursday, December 14, comments: “I am not directly following the negotiations in Europe on the reform of the Pact of Stability, but Forza Italia’s position is that already expressed by Antonio Tajani, that is, the MEE can be approved if it is useful to obtain the derogation from the Stability Pact as Italy intends to use”. Regarding the intention of the League and the Brothers of Italy to go for another postponement, Barelli recalls: “I know that Minister Giorgetti is very attentive to the matter because he knows that ratification by Parliament can be a counterweight in the negotiations for the Pact in order to to reach the derogation and exclusion of expenditure for the Pnrr and for aid to Ukraine for the war and also to postpone for another two years the parameter of 3% of the deficit-GDP ratio”. Blue explains that “if we ever used the MEE – he emphasizes – we would be in default. Therefore, it is absolutely unlikely. The next parliamentary step is not a big problem, it is just a matter of principle and as leader of the Forza Italia group I say that it could be useful to reassure other European countries and allow us to obtain a positive response to our requests regarding reform of the EU Pact. But the government will decide how and when to proceed.”
Over the next fifteen days, the heads of state and government and, in a more technical context, the EU economic ministers will have to resolve, in one sense or another, the issue of the Stability and Growth Pact that regulates the economic and financial coexistence of countries of the Union. At the end of the year, the moratorium that Europe imposed to better deal with the pandemic crisis, worsened by the energy issue, expires. It is necessary to decide how to renew a set of rules that, established in 1997 based on parameters dating back to 1992, are now largely outdated by the facts. If an agreement is not reached, the old limits imposed to contain each State’s public deficits and debts will remain in force.
Source: IL Tempo
Emma Fitzgerald is an accomplished political journalist and author at The Nation View. With a background in political science and international relations, she has a deep understanding of the political landscape and the forces that shape it.
