A new Stability Pact without austerity but prudent on debt is in Italy’s best interest

The reform on which Ecofin will express its opinion next week is “an excellent operation” for the Meloni government, said Commissioner Gentiloni. A new phase is opening in the application of the budgetary rules that the member states will have to respect

The European Commission presented the tax guidelines for 2024, opening a new phase in the application of the budgetary rules that the member states will have to respect. A general agreement on the reform of the Stability and Growth Pact is expected for next week at Ecofin. The legislative proposals will be presented in April and the technical details will have to be negotiated over the next year. But there is agreement on what the new Pact should look like: realistic on budgetary objectives, with longer times for debt reduction and even longer if governments choose to make reforms and investments in priority sectors for the EU ( the double green and digital transition and defence).