“Italy’s budget battle with the European Commission”, Federico Steinberg (Elcano, Spain)

The European Commission has rejected Italy’s proposed draft budget because of how seriously it breached prior fiscal commitments, including an increase in the deficit to 2.4% of GDP, three times higher than originally agreed.

Challenging European institutions seems to be catching on. In September the Commission took Poland to the Court of Justice to force it to preserve the independence of its own Supreme Court. At the end of October, the head of Europe’s Brexit negotiation team, Michel Barnier, repeated for the umpteenth time to Prime Minister Theresa May that her Chequers plan is unworkable and that the Commission’s red lines are not flexible. Finally, the Commission also rejected Italy’s proposed draft budget because of (…)

Link to the full publication: http://www.realinstitutoelcano.org/wps/portal/rielcano_en/contenido?WCM_GLOBAL_CONTEXT=/elcano/elcano_in/zonas_in/commentary-steinberg-italys-budget-battle-with-european-commission