Sabato, 22 Settembre 2018

Grilli defends 40-billion-euro debt increase in parliament


Rome, March 28 - The economy minister on Thursday
said the government's decision to increase debt by 40 billion
euros over the next two years will produce positive stimulus
results by mid-2013.
"Injecting liquidity into the economy will jumpstart
domestic demand already by the middle of the year," said
outgoing Economy Minister Vittorio Grilli, whose
government should soon be replaced by politicians elected in
late February.
To meet all of its commitments, including social spending,
the government announced plans last week to increase debt by 20
billion euros in 2013 and 20 billion euros in 2014.
The increase in debt was made possible after the European
Commission (EC) in Brussels gave Italy more flexibility in its
national debt levels despite a stability pact signed by nations
including Italy that fixed those debt levels.
Grilli was addressing a special committee in parliament,
where a political logjam continues as the three parties that
gained the most votes struggle to find some way to work together
to form a new government.
His plan has undergone harsh criticism from the
anti-establishment 5-Star Movement (M5S) of Beppe Grillo, which
holds the balance in the divided parliament.

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