According to the director of the Center for European Policy Studies in Germany, no one even knows that there is a reform underway and Germany will give up the penalty line, but it is not said that it will be good for Italy
The director of the Center for European Policy Studies Daniel Gros gives his opinion on the evolution of the debate on the reform of the Stability Pact, on which Italy is among the countries that would like a relaxation of the rules.
“The debate on the Stability Pact is very Italian”, Gros assures. “In Germany no one now, except perhaps five people in the finance ministry, even knows that there is a reform underway.”
The point, according to the Ceps director, “is that the former minister Wolfgang Schäuble had a missionary attitude, so to speak. He wanted all countries to follow the German example. But now the current government says it’s okay if the Italians they want to run up debt until we have to pay it.”
“They won’t fully comply with Italian requests, but in the end they will”, is Gros’ prediction. “Whether this is in Italy’s interest is another matter. I highly doubt it.”