We may be in the midst of negotiations with the troika – which are going smoother than expected – but at the same time a debate about relaxing the Stability Pact has been sparked, on occasion of France’s decision to ignore its commitment to reduce its public debt to less than 3% for now and postpone it for 2017. The Italian PM Mateo Renzi was supportive of France and argued that countries cannot have the same treatment as students, an obvious a reference to Mrs. Merkel.
She was quick to respond to the challenge and defended her policies, claiming that we cannot say for certain that we have overcome the crisis, which is why it is important for everyone to reliably uphold their promises and commitments. This is no new conflict, it is just that now that it is taking place between two important – financially and politically – EU members. This clash, just like all those before in the past few years, will not be resolved immediately, as decisions take time in the EU and they require time and arduous negotiations to mature.
This debate and clash affects and concerns us directly. Having endured the tight grip of austerity for the past five years, it is absolutely necessary to ensure significant relief, so that the real economy can finally get moving. On top of our own reforms, France and Italy’s stance gives us further courage to demand at least equal treatment. Because it would be absurd for economies that have trillion-euro budgets, which affect Europe and the euro to a great extent, to be allowed deficits, while were asked to provide even greater surpluses. This conflict clearly will not be simply, but the government now has the arguments to demand the relief that we deserve.
TO VIMA
