{"id":17613,"date":"2019-06-06T11:16:58","date_gmt":"2019-06-06T09:16:58","guid":{"rendered":"https:\/\/www.debitos.com\/disciplinary-procedure-looms-over-italy\/"},"modified":"2019-06-06T11:49:59","modified_gmt":"2019-06-06T09:49:59","slug":"disciplinary-procedure-looms-over-italy","status":"publish","type":"post","link":"https:\/\/www.debitos.com\/el\/news\/disciplinary-procedure-looms-over-italy\/","title":{"rendered":"Disciplinary procedure looms over Italy"},"content":{"rendered":"<p id=\"tw-target-text\" class=\"tw-data-text tw-ta tw-text-small\" dir=\"ltr\"><span lang=\"en\">The European Commission has opened the way for a disciplinary procedure against Italy. According to a recent by the Commission, the Italian government has failed to take sufficient action against state debt.\u00a0In the past year, the debt had risen to 132.2% of the GDP and is expected to rise even higher. Under EU rules, no country is allowed to have a budget deficit larger than 3% of gross domestic product or debt above 60% of output. The fines Italy could expect in case of a full procedure would amount to 0.2% of the GDP.<br \/>\n<\/span><\/p>\n<p>The Commission stated, that &#8220;Italy\u2019s public debt remains a major source of vulnerability for the economy&#8221;. Acording to the report, the nations debt ratio will &#8220;rise in both 2019 and 2020, up to over 135%, due to a large debt-increasing \u2018snowball\u2019 effect, a declining primary surplus, and underachieved privatization proceeds&#8221;. The Commission added, that &#8220;while refinancing risks remain limited in the short term, the high public debt remains a source of vulnerability for Italy\u2019s economy&#8221;. <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2019-06-05\/eu-triggers-italy-disciplinary-process-warns-of-debt-snowball?srnd=premium-europe\" target=\"_blank\" rel=\"noopener\">Bloomberg<\/a><\/p>\n<div class=\"hardwall\"><\/div>\n<div class=\"softwall\"><\/div>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"Italian debt has risen to 132.2% of the GDP in 2018.","protected":false},"author":2,"featured_media":17551,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[130],"tags":[],"class_list":["post-17613","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category--el"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.debitos.com\/el\/wp-json\/wp\/v2\/posts\/17613","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.debitos.com\/el\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.debitos.com\/el\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.debitos.com\/el\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.debitos.com\/el\/wp-json\/wp\/v2\/comments?post=17613"}],"version-history":[{"count":1,"href":"https:\/\/www.debitos.com\/el\/wp-json\/wp\/v2\/posts\/17613\/revisions"}],"predecessor-version":[{"id":17614,"href":"https:\/\/www.debitos.com\/el\/wp-json\/wp\/v2\/posts\/17613\/revisions\/17614"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.debitos.com\/el\/wp-json\/wp\/v2\/media\/17551"}],"wp:attachment":[{"href":"https:\/\/www.debitos.com\/el\/wp-json\/wp\/v2\/media?parent=17613"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.debitos.com\/el\/wp-json\/wp\/v2\/categories?post=17613"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.debitos.com\/el\/wp-json\/wp\/v2\/tags?post=17613"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}