The Italian plan for Europe: – BBC

Anything to revive growth, employment and the European project, which has never been weaker than now. The Italian Government launches its ‘whatever it takes’ to the European Union to push it out of the crisis that has plunged after years of economic stagnation and in front of the immigration tragedy, and advances in Brussels a package of concrete proposals and feasible without changing the Union’s fundamental rules, but exploiting all possible margins, beginning with those offered on budgetary policy.

banking Union

a road rather orthodox one chosen by the Italian government, which passes through the completion banking Union, the strengthening of the internal market, greater coordination of public finance. To be pursued with additional tools, but not unprecedented: a European fund to combat unemployment, the use of the Fund bailout, seen in the future as a sort of European Monetary Fund, as a prop for the European guarantee on bank deposits, Eurobonds to finance the costs of immigration. In “Position Paper” Italian, released in English by Palazzo Chigi, the first point is that the budget rules. “With the continuation of a slow and exceptionally low inflation growth, including the extraordinary effort of the European Central Bank is proving insufficient,” he said. And “the budgetary margins should be used entirely to support growth,” he adds, before asking “more symmetry” in the adjustments that are requested from individual countries. “Very high commercial Avanzi have a negative impact on the euro zone operation exactly how high deficits,” he emphasizes, with an almost explicit reference to Germany, never criticized by Brussels for the surplus of the balance of payments. Given high priority to revitalizing the economy, the government insists on the need to promote the continuation of structural reforms “with appropriate incentives”, and investments. Again using every available euro in the budget, and by associating the European funds of the Juncker Plan with national ones and those of lenders such as Cassa Depositi.

a budget to Mr. euro

to enhance investment, and cyclical, Italy supports the idea of ​​a more active use of the budget European and proposes a budget to be allocated for this purpose to a Minister of Finance of the euro area, which should have a political mandate by the European Parliament. Reiterated the proposal of a European fund to combat unemployment the government, yet critical of the Directive on bail, back to ask completion Banking Union with a European deposit insurance scheme, and to provide financial support for the Resolution Fund banking crises. At first, the government suggests, resources could come by the ESM, the Fund bailout that in perspective “could be transformed into a European Monetary Fund ‘, even if the 700 billion which the ESM features are’ calling, “and not subscribed by the Member States. The last chapter of the document is devoted to the tools to manage the exceptional wave of immigrants and refugees. “The Schengen Agreement is one of the main achievements of European integration and needs to be preserved and strengthened,” writes the government, calling for the sharing of the burden. Even with a “financial initiative at Union level, intended to finance the common management of external borders.”