Italy PM says proud of budget, seeks European Union dialogue 'without prejudice'

REUTERS  Johannes P. Christo

Now, the onus is on Brussels over whether to accept or reject the new spending proposals.

Official policy is that the government backs remaining in the European Union, but both Salvini and Di Maio are avowed eurosceptics, and Salvini is believed to privately back an exit from the single currency.

"I am extremely happy, we are keeping our promises, slowly but bravely. We are not raising taxes of any kind for 2019", Salvini said during a press conference Monday evening.

In a reaction on Wednesday, Italian deputy prime minister Salvini said that Italy will not change its budget. The vote delivered an inconclusive result and the parties formed a coalition, one that has since caused consternation in Brussels for its euroskeptic rhetoric and big spending plans.

There is one mitigating factor according to Goldman: "it could be argued that France's deviations from the structural adjustment path reflect the current government's aim to boost potential growth, in particular through an increase in capital stock and labour participation, it is more hard to make the same case for Italy, where the reforms to the pension system imply a deterioration in the medium-term sustainability of public finances". That is still not the final position of the European Commission, he later clarified via Twitter. "We have full confidence that the European Commission will handle the question in the way imposed by the treaties", Brinkhaus told reporters in Berlin.

More news: Women journalists' group demands Akbar's dismissal, writes to President, PM

European Commissioner Günther Oettinger denied a report in Der Spiegel that his fellow Commissioner Pierre Moscovici had sent a letter to Rome which should arrive on Thursday or Friday, rejecting the budget. It has legal powers to ask Italy to revise its draft budget.

Brussels is concerned that Italy's budget will increase the country's deficit.

This budget concern the euro zone as the Italian debt, at 131% of its GDP, after Greece the debt ratio is the highest among the 19 countries that have adopted the single currency. The budget proposes increasing both Italy's overall government debt and its deficit in the short run, pushing the deficit as high as 2.4% of GDP over the coming years.

Earlier, Spiegel magazine reported that the Commission has already made a decision to reject the budget plan, citing comments from Oettinger. "I don't think it will happen, but the result of such erroneous speculation can be very bad".

This contravenes European Union regulations that call on Italy and other highly indebted countries to steadily narrow the shortfall toward zero.

Related News:

  • Simona Halep to finish as world No 1 for second year running

    Simona Halep to finish as world No 1 for second year running

    Dealing with a herniated disc, Halep is in Moscow this week to test out her back and get some match prep before Singapore. Stephens previously won the 2017 US Open.
    Google Maps now tells electric vehicle  drivers where to find charge point

    Google Maps now tells electric vehicle drivers where to find charge point

    The latest addition to Google Maps list of features benefits those who have opted to lessen their carbon footprint. However, the Mountain View firm will be adding the fresh functionality to computers in the "coming weeks".

    Canelo, Golden Boy Announce Major Deal With DAZN

    Alvarez and Britain's Fielding will hold a news conference in NY on Wednesday to promote their fight at Madison Square Garden. The historic deal marks a major change in the boxing landscape, where its biggest stars traditionally fought on pay-per-view.
  • Bellinger hitting leadoff for Dodgers vs Brewers in Game 5

    Bellinger hitting leadoff for Dodgers vs Brewers in Game 5

    Woodruff then faced more traffic in the sixth inning as Justin Turner led off with a single and Machado was grazed with a pitch. Game 5 is Wednesday afternoon at Dodger Stadium, with Wade Miley going for the Brewers against fellow lefty Clayton Kershaw .
    Canada Becomes First Industrialized Nation to Legalize Marijuana

    Canada Becomes First Industrialized Nation to Legalize Marijuana

    Consultants in pressed black aprons served a mostly older clientele browsing varieties of dried cannabis and bottles of tinctures. As Canada welcomes legalization, supply shortages could develop, as happened in some U.S. states when legalization arrived.
    Jamal Khashoggi's mystery slaying splits Trump, GOP

    Jamal Khashoggi's mystery slaying splits Trump, GOP

    Despite concerns about Saudi human rights, Trump still says he is unwilling to pull out of arms sales accords with Riyadh. The crown prince also agreed on the need for an investigation that "provides answers", she said.
  • Australia Ponder Moving its Embassy to Occupied Jerusalem, Palestinians Condemn Move

    Australia Ponder Moving its Embassy to Occupied Jerusalem, Palestinians Condemn Move

    Australia this week would vote against a motion on the Palestinian Authority taking the chair of the Group of 77 of developing nations.
    Canada to pardon small-scale pot convictions

    Canada to pardon small-scale pot convictions

    The coming into force of the Cannabis Act makes Canada only the second nation after Uruguay to legalize the drug. According to a recent Gallup poll , 64% of Americans support cannabis legalization.

    Spike reported nationwide in cases of baffling paralysis in children

    States are not required to provide this information to CDC, but they have been voluntarily reporting their data. More than 90 percent of the cases involved children 18 or younger, with an average age of just 4 years old.
  • Astros Suspected of Cheating In ALCS, ALDS

    Astros Suspected of Cheating In ALCS, ALDS

    Passan writes that the league has not punished the Astros for any illegal behavior following the investigation. Boston Red Sox president of baseball operations Dave Dombrowski expressed mixed feelings over MLB's findings.
    UK, EU agree to take more Brexit time after no-result summit

    UK, EU agree to take more Brexit time after no-result summit

    Germany's Europe minister, Michael Roth, said Berlin's message to Mrs May was: "Take responsibility and be constructive". However, the chances of Mrs May securing a deal by Friday are low and confidence in the Prime Minister is waning.
    Philadelphia 76ers: 3 takeaways from season-opening loss to Boston Celtics

    Philadelphia 76ers: 3 takeaways from season-opening loss to Boston Celtics

    Joel Embiid was an occasional black hole who committed five turnovers, but the big fella still had impressive moments. They combined for 22 points on 11-of-18 shooting, to go with 13 rebounds, four assists and five blocks.


Most liked

Duchess Meghan says she is 'running on adrenaline' during royal tour
She presented the Woodley family with a loaf of banana bread she had baked in the kitchens of Admiralty House on Tuesday night. During another demonstration, Meghan got a shock when a group of school children demonstrated a miniature F1 race track.

Kevin Durant Doesn't Need 'Anything Extra' from the Warriors
The only downside from Durant's perspective could be the way he is perceived by the Warriors faithful. "I think myself and P.G., we were kind of hesitating", Schroder said.

Supplements Often Tainted by Hidden Drugs
Cohen , Associate Professor at the Harvard University, said that FDA discovered 746 adulterated supplements. The manufacturer of Pro ArthMax voluntarily recalled the supplement in 2014 after being warned by the FDA.

Orange Is the New Black Ending With Season 7
Even hardcore followers of the series (like my wife) have said that the last two seasons have dropped off in terms of quality. It is a season you will not forget and we're going to give you everything and more that you could have ever wanted'.

Boston newspaper accuses Astros of stealing signs during ALCS Game 1
Players, too, recognize the need for increased caution. " It's part of the game now ", Red Sox catcher Blake Swihart tells Speier. As Passan notes, however, the Astros aren't the only organization that has been accused of this manner of sign-stealing efforts.

Ariana Grande Breaks Silence on Pete Davidson Split
Their pea cup pig, Piggy Smallz that the couple adopted last month went to Ariana Grande since she originally brought it. As fans know, Grande was hit hard by the traumatic overdose death of her ex, Mac Miller , on September 7.

Treasury official arrested for leaking documents linked to Mueller’s Russian Federation probe
Authorities say that when Edwards was arrested, she was found with a flash drive containing the confidential reports. The charges reflect the latest move in the Trump administration's effort to root out leakers within the government.

Health officials: Oklahoma child diagnosed with rare polio-like illness
Health officials said five kids in Maryland are believed to have contracted a virus this fall that has symptoms similar to polio . The agency doesn't know who may be at higher risk for developing this condition or the reasons they may be at higher risk.

Dennis Hof, Nevada brothel owner, to stay on ballot despite death
Though no foul play is suspected, witnesses say the fatal incident occurred after a campaign rally for State Assembly. Nye County spokesman Arnold Knightly told reporters that Hof "went to sleep last night and didn't wake up".

Grandmother Allegedly Stabs Infant, Bakes Her in Oven
Williams said those toys had belonged to the child. "She didn't ask to be here", neighbor Tomorrow Williams told WMC-TV. Royalty had been living with her grandmother at the time of her death and it's unclear where her parents were.

Netflix stock price jumps after hours on 7 million new subscribers
Management also expects a whopping 9.4 million new customers in the final three months of 2018, likely led by global markets. It's affordable, there aren't any commercial breaks and it has a deep and diverse library of TV shows and movies.

In Italy, we found the burial of a child-"vampire"
The oldest remains found previously were those of a three-year-old girl whose hands and feet were weighed down with stones. Wilson added, "Anytime you look at burials, they're significant because they provide a window into ancient minds".

Boris Johnson blamed for rise in hate crime
The total number of hate incidents reached a record 94,098, from April 2017 to March 2018 - a rise of 17% from the previous year. Hate crimes against gay and bisexual people in the United Kingdom have rocketed by double-digit figures, new statistics show.

US airstrike in Somalia kills about 60 al-Shabaab fighters
Africa Command (AFRICOM) said the strike took place on Friday, October 12, in the Harardhere area along the central coast of Somalia.

Female reporters attacked near Sabarimala temple in dispute over ban on women
Pilgrims have for centuries visited the Sabarimala temple , in a remote tiger reserve in the Western Ghats mountain range. As soon as she arrived at the bus terminal, police formed a protective ring around her and escorted her to a safe place.