Italian deputy Prime Minister Matteo Salvini

Italy’s populist government is standing firm on its new budget proposals, but it could now pay the price for doing so with the EU launching disciplinary measures against the country.

The European Commission — the EU’s legislative arm — said that Italy’s 2019 draft budget does not comply with the EU’s requirement that member states work to reduce their debt piles.

As such, the Commission will now launch what’s known as an “Excessive Deficit Procedure” that could lead to Italy being fined.

Italy’s Deputy Prime Minister Matteo Salvini remained defiant after the news, saying he will talk to the Commission “politely, as always, but will carry on.”

Who would want to leave such a club?

Pause.

Combattimento!

EU begins disciplinary procedures against Italy after rejecting its controversial budget plans (CNBC)

Pic: Getty

13 thoughts on “Roman Charges

  1. john f

    Italy is the Eurozone’s 3rd biggest economy, it will not be pushed around the same way Greece was and is. Italy, Poland and Hungary will be Europhiles greatest opponents when it comes to EU expansion and federalisation.
    A big part of the problem with Italy’s deficit is the euro, their economy is not suited to the currency. Arguably ours isn’t either, it is one of the major factors in our asset price boom-bust cycle.
    I take issue with how the party is dismissed as being populist, it was democratically elected by the will of the people.

    Reply
    1. Martco

      how do you mean the economy is not suited to the currency? would it work better if it was dollars…or monopoly money?

      Reply
      1. Dr_Chimp

        Economic conditions in the country are not suited to the single rate set by the ECB. Things would be better, the argument goes, if Italy had it’s Lira back. Germany for example can deliver a massive trade surplus on the back of a currency that is weaker than it would be if it were dealing in DM. The situation in Italy is the reverse.

        Reply
  2. realPolithicks

    Looks like Italy is reverting to its old fascist ways again, when you throw other countries in like Poland, Hungary and Austria it appears that Europe is veering rightwards.

    Reply
        1. Dr_Chimp

          None of that is fascism. This is a legitimate democratically elected government pursuing policies that are in its own interest. It’s not authoritarian, genocidal or undemocartic.

          Reply

Leave a Reply

Your email address will not be published. Required fields are marked *