FROM EIR DAILY ALERT

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Senator Bagnai Challenges, Let the EU Start Enforcement Proceedings against Italy

Oct. 15, 2018 (EIRNS)—Speaking at a public event in Florence, Italian Senate Banking Commission head Alberto Bagnai said that the Italian government does not fear EU enforcement proceedings for violation of budget rules. “It is better to pay a fine of 0.2% GDP than to lose 4% of GDP in one year because of austerity policies,” Bagnai said.

“Under current EU rules, our budget does not respect some prescriptions and therefore it is perfectly likely that there will be a violation proceeding. It would not be the first time: There are countries with more open violation proceedings than us, there are countries violating other parameters. We will timidly and respectfully remind you that we maybe would like to be treated equally. After that, if it must be, it shall be violation.”

In an article posted today on the website of his economic association, Bagnai exposed Reuters disinformation terrorism against Italy, exemplified by a wire saying that the Italian government plans to triple the deficit next year, backtracking on its previous pledge to narrow the budget gap.

The current deficit is going to be 1.8% this year according to most estimates, Bagnai said, and therefore even a planned 2.4% for next year is not triple. It is three times the fully theoretical figure of the deficit originally planned by the previous government for next year, but—and here comes the second false information—

“The Italian government did not backtrack: it changed. I suspect that this may hurt someone at Reuters, and I am sorry for this, but it’s not my fault: it’s democracy.”