Giorgetti: ‘We will ask the EU for the maximum possible support on energy. ’ Yes to the majority’s draft - EUROPE SAYS
Majority resolution amendedThe seventh paragraph of the resolution tabled by the majority was therefore amended in the part referring to the Safe programme, with the following addition: ‘With regard to the. . .
Majority resolution amendedThe seventh paragraph of the resolution tabled by the majority was therefore amended in the part referring to the Safe programme, with the following addition: ‘With regard to the financing of defence-related measures, the use of various conditions, including those set out in the SAFE programme, should be considered where deemed advantageous, whilst in all cases prioritising the use of funds for defence and national security technology systems’. This was stated by the Under-Secretary for the Economy, Federico Freni, when expressing his opinion on the resolutions tabled in the Chamber of Deputies. The Under-Secretary expressed opposition to the remainder of the resolutions tabled by the opposition parties. Giorgetti: the deviation will be finalised in October, before the outcome of the deficit procedure“The deviation that we will be proposing to Parliament in September–October will be set out there in precise terms, both in terms of quantity and timing. This is because much of it overlaps with the exit from the excessive deficit procedure, which will only be defined or formalised in one way or another by the end of September. ” This was explained by the Minister for the Economy, Giorgetti, in his reply. “And since this deviation will only be authorised by the Council of the EU if it guarantees the long-term sustainability of public finances, we need to know, based on the outcome of this procedure, whether sustainability can be guaranteed and how, given the different ways in which the scope for deviation might be utilised. ”EU gives the go-ahead for the clause in October, followed by the deviationAs regards the timetable, the Minister for the Economy had explained shortly beforehand that the European Commission would assess the requests concerning the national safeguard clause ‘in September, possibly recommending their approval to the Council, which is expected to formalise the recommendation at the October Ecofin meeting’. Following this recommendation, and pending the alignment of national accounting rules with the new European economic governance framework, in a similar manner, the procedure set out in Article 6 of Law No. 243 of 2012 will be invoked, in order to account for the amount of the clauses utilised and the measures to which the relevant resources will be allocated, that is, the so-called budget deviation’. Without an early exit, we could remain in the deficit procedureIn his speech, Giorgetti explained that ‘the comprehensive new procedure set out in the safeguard clauses demonstrates that any final formulation of the plan must necessarily be drawn up with due regard to the compatibility of the effects of the measures it contains with all public finance constraints and the progress of the excessive deficit procedure’. Indeed, he added, ‘should the excessive deficit procedure not be closed early in the light of a September revision of the 2025 figure or on the basis of the final 2026 deficit figure, a deterioration in public finances in subsequent years such as to result in a deficit exceeding 3 per cent would mean remaining subject to the procedure until the deficit falls below the threshold laid down in the Treaties, even if the excess deficit is entirely attributable to expenditure in line with the eligibility criteria for the NEC (National Escape Clause, editor’s note). Tags:EconomyEconomy of EUEconomy of the EUEU economyEurope