Stability Pact, EU to help states: another 12 months without sanctions. Draghi: “We are not behind”

The calendar for Pnrr “It will not be ignored”. While tensions remain high in the majority on competition law and especially on bathing concessions, Palazzo Chigi there is little doubt about the actual implementation of the reforms and compliance with the deadlines for the national recovery and resistance plan. Or rather, there is none at all. To the point that the idea of ​​a Europe concerned about our own situation is also rejected. In fact, Brussels is read as an encouragement: the signal that “there is confidence” in the government’s action. As well as in the ability to adapt to any obstacles that gradually arise. An example? The question of bathing signs in reality, on which Mario Draghi he has already made it clear that if it is really necessary, he will not hesitate to build trust.

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In practice, the recommendations that the European Commission will make to Rome today – and in fact reiterate how the full implementation of the NRP is “essential” – not only do not affect the awareness of what to do, but are not even considered a “reminder”. “as it defined yesterday Matteo Salvini. About something, a kind of new point in the situation. That it is really complex is another matter.
And this is also underlined by the words of EU Commissioner for Economic Affairs Paolo Gentiloni. “We are in a very different world than the one three months ago,” he said yesterday when interviewed by the press, so for Italy “in this new context, the National Reform Plan is the antidote to the risk of stagnation”. Words that the Vice-President of the European Commission, Frans Timmermans, clarified yesterday, “apply not only to Italy, but to all European countries”.

THE AGREEMENT
Just as the suspension of the Stability Pact for another year will apply to all European countries. Today, the European Commission will extend the safeguard clause that has suspended the rules of the pact (expires on 31 December this year) until the end of 2023. A decision dictated by the situation of extreme instability triggered by the Russian war against Ukraine, and by the slowdown in the post-pandemic recovery it has generated. Enlargement is part of the same package, which includes the Brussels recommendations for the 27. For the peninsula, the sustainability of public finances remains at the forefront, which means, above all, a reduction in the debt ratio and containment of the deficit. So from this point of view, the suspension of the pact is excellent news.

In the recommendations for all countries, ample space will be set aside for the NRP. For Italy – which has by far the richest and broadest PNRR – the eyes at this stage are focused not only on competition but also on the tax authorities (the text says, “the marginal rates and adjustment of values ​​cadastral to market values”). That is, on another of the exposed nerves of the majority. In fact, there is also the controversial reform of the land registry, which has already been agreed upon last month. An agreement that did not prevent the center-right yesterday from returning to the attack on the company will not tax the homes of Italians.
Not only. The document, which Repubblica has anticipated, also contains indications of “limiting the growth of current spending” for a “credible and gradual reduction of debt” and “extending public investment to the green and digital transition”. A complaint about current expenditure, moreover already manifested by the Commission in November 2021 in the text with which Brussels had promoted the government’s budget maneuver.

On the other hand, calendar in hand, it should be noted that Italy appears to be really in the process of reforms (15) and investments (30) to be implemented in the second quarter in order to access the second tranche of European funds. for 2022, equivalent to approximately 24 billion euros. The percentage of completion of the reforms is 37.78% compared to the 50.15% expected at the end of this quarter – as shown by Open Pnrr from the openopolis website – and the investment trend is 20.09% , almost 5 points less than goals set at the end of June.

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