The Council of Ministers meets on Monday in the Palazzo Chigi, with the price of petrol also on the table

Giorgia Meloni returned to Palazzo Chigi yesterday after a two week holiday between Puglia and Albania. During the Prime Minister’s party The Brethren of Italy are reorganizing part of their structure Internally and the government is preparing for its second economic maneuver, the first Council of Ministers meeting is scheduled for Monday. According to government sources, there will be a “light” version.

Among the hottest topics are the expensive fuel (on the A-21 Turin-Piacenza there are top values ​​per portion of 2.8 euros per liter), or the high consumption tax. Undersecretary of State of the Lega Nord Claudius Durigon In recent days he has suggested the possibility of a “first filing” using the higher VAT revenues. But not all centre-right parties agree with this interference. Maurizio Lupi For example, Noi Moderati told RaiNews24 of the Rimini meeting that this intervention: “It would be irresponsible. It costs 1 billion euros and is a horizontal cut that applies to those who have cars with large engines and to those who earn 1,200 euros and has a small car. Better to focus that billion to help people in need. Either we understand that or the flags won’t fly anymore.”

So it’s not easy to untie the knot. Just as the decisions for the fall maneuver, where the ceiling is running low, will not be easy. A majority summit is planned for this on Monday, September 4th. So far, 6-7 billion euros are available, a total of around 30 should be necessary.

That hangs over all of that stability pact: Europe’s fiscal rules, which were relaxed during the pandemic, need to be reformed, but without an agreement, which currently does not exist, the old rules are returning.

Giorgia Meloni is due to meet Greek Prime Minister Kyriakos Mitsotakis in Athens on Tuesday and this issue will be at the heart of the search for an allied side. Migrants are also a very hot dossier that Meloni wants to share with Greece. Rome and Athens agree that they call on the European Union to deal with this at Community level.

The Brussels proposal to renew the Stability Pact

In April, the European Commission presented this proposal:

  • Countries with deficits over 3% and debts over 60% must submit individual repayment plans. Brussels will set out a “technical path” to deleveraging with a commitment to cut deficits by at least 0.5% a year.
  • Pending strategic investments (green, digital and defence) and reforms, the plan could be extended to seven years
  • Deviations from plan automatically trigger an excessive deficit infringement procedure
  • States must pay semi-annual fines of 0.05% cumulative up to 0.5%.
  • The expected penalties have so far been 0.2% of GDP, so high that no country has been asked to pay these penalties.

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