BRUSSELS - The European Commission will ask Italy on Wednesday to explain what factors contributed to the deterioration of its public finances as the EU executive prepares a report that is likely to be the basis of disciplinary action against Rome.
Italy’s debt rose from 131.4% of GDP in 2017 to 132.2% in 2018 and will go up to 133.7% this year and to 135.2% in 2020, according to Commission forecasts. “The letter to Italy will be sent in the afternoon after the meeting of the college of commissioners,” one EU official said.Under a compromise struck with Rome late last year, which the Commission then called “borderline”, Italy was allowed to keep its structural deficit unchanged with a marginal easing in debt in 2019, based on an optimistic economic growth assumption.
The report, to include “relevant factors” that may have contributed to the deterioration according to Italy, is likely to conclude that the EU should open a disciplinary procedure against Rome on the basis of the rising debt, officials have told Reuters.
And here is the answer
EU should ask at the mirror
And what they going to do about if if they don’t like the answer
Easy the EUrocrats screwed them
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