Picture: Deutsche Welle
You thought Brexit was the only problem the EU was struggling with at the moment? How wrong were you?
The EU Commission’s latest rejection of Italy’s budget is the first step in disciplinary procedures that, in typical schol bully stylem the bastards of Brussels threaten will lead to big fines and economic sanctions. The EU Commission said Italy has “seriously violated” EU budget rules when rejecting again Italy’s proposed budget on Wednesday.
The Commission confirmed its assessment that “Italy’s draft budget plan is in particularly serious non-compliance” with EU debt rules, Commission Vice President Valdis Dombrovskis said in Brussels. It is woth reminding ourselves here that when Italy, with its traditionally weak currency, was bullied into joining the European Single Currency System (the Euro) after the EU had ben its own rules to breaking point in a politically motivated move to force weaker economies into financial integration, thus advancing the Federal European Superstate agenda.
Dombrovskis said with the Italian government’s current plan “we see a risk of the country sleepwalking into instability.” (Well he’s Greek so he’d know.)
“We conclude that the opening of a debt-based excessive deficit procedure is warranted,” he added, referring to the EU’s disciplinary process against member states for over-spending, a policy which has impoverished millions of people in Greece, Spain, Portgal, Ireland and Italy as EU imposed austerity policies have destroyed the spending power of wages.
The Commission’s move is mandated for countries whose debt levels are above the Eurozone threshold and who are not doing enough to reduce borrowing. Unfortunately not all countries are as strong economically as Germany, and with their weak economies tied to the German industrial powerhouse they cannot operayte within the eU rules.
Italy’s government, led by a populist coalition of left leanin Five-Star Movement and the right-of-centre Lega, has remained largely defiant towards Brussels. On Wednesday, Matteo Salvini, Italy’s interior minister, deputy prime minister and de fact leader of the government, said any EU sanctions against Rome would be “disrespectful” towards Italians.
“We are convinced about the numbers in our budget. We will talk about it in a year’s time,” he told reporters. Rome and the EU Commission had been at odds for weeks over Italy’s budget after it had been rejected by the Commission a first time.
Last week Italy submitted a revised version of its budget with only minor adjustments that did not appease the Commission and EU member states.
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