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College Meeting: European Commission replies to the Italian government on its fiscal plans

After a meeting of the College of Commissioners, the European Commission sent a letter on 19 December to the Italian government regarding the fiscal measures set out by Prime Minister Giuseppe Conte and Finance Minister Giovanni Tria in their letter of 18 December.

date:  20/12/2018

See alsoLetter to the Italian government

After a meeting of the College of Commissioners, the European Commission sent a letter on 19 December to the Italian government regarding the fiscal measures set out by Prime Minister Giuseppe Conte and Finance Minister Giovanni Tria in their letter of 18 December. On 21 November, the Commission adopted an Opinion on Italy’s revised draft budgetary plan, confirming a "particularly serious non-compliance" with the recommendation made by the Council of the European Union to Italy on 13 July. This was followed by a report under Article 126(3) of the Treaty of the Functioning of the European Union, concluding that an Excessive Deficit Procedure for non-compliance with the debt criterion was warranted. This conclusion was shared by the Eurogroup of 3 December, which also supported the ongoing dialogue between the Commission and the Italian authorities. The letter now sent by the Commission takes note of the new fiscal measures presented by the Italian government and indicates that if they are approved by the Italian parliament before the end of the year, this would allow the European Commission not to recommend the opening of an Excessive Deficit Procedure at this stage.