This morning’s key headlines from GenerationalDynamics.com European Commission rebukes Italy after blatant budget rules violation Greece’s elderly still face possible pension cuts in January European Commission rebukes Italy after blatant budget rules violation It is like writing a letter to your bank and saying that you will be making only half your mortgage payments for three years and that they should understand because you need the money. Your bank would have to reject your statement forcefully. On Monday, Italy’s Economy Minister Giovanni Tria sent a letter to the European Commission (EC), clearly saying that Italy intended to violate EC budget rules from 2019-22: As regards the path of the structural balance, the Italian Government is aware of having chosen a budgetary policy approach that is not in line with the application rules of the Stability and Growth Pact. It was a difficult but necessary decision ally of the persistent delay in recovering … [Read more...] about World View: European Commission Rebukes Italy After Blatant Budget Rules Violation
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World Italy’s Deputy Prime Minister Matteo Salvini has hinted the European Union (E.U.) may be responsible for yesterday’s catastrophic bridge collapse in Genoa, suggesting that the bloc’s spending limits are putting lives at risk. The euroskeptic politician’s comments come the day after at least 35 people were killed in the northwestern city of Genoa, as a portion of the Ponte Morandi failed during a storm. Rescuers are still working to dig out more victims and the death toll is likely to rise. Speaking to reporters in Sicily, Salvini—who leads the far-right League party—said, “If external constraints prevent us from spending to have safe roads and schools, then it really calls into question whether it makes sense to follow these rules.” According to Bloomberg, Salvini, who is also the minister of the interior, added, “There can be no trade-off between fiscal rules and the safety of Italians.” The collapsed Morandi … [Read more...] about Genoa Bridge Collapse: Italian Minister Blames European Union Budget Contraints
Italy's Finance Minister Giovanni Tria at a EU Eurozone Finance Ministers meeting at the European Council last month. Riccardo Pareggiani / AFP Italy on Wednesday cut its forecasts for both economic growth and its public finances this year and next year, potentially lining it up for a clash with Brussels. In an interview with the business daily Il Sole 24 Ore, Economy Minister Giovanni Tria said he now expected the country's gross domestic product to expand by 1.2 percent this year, down from the 1.5 percent forecast by the previous government. And GDP growth next year was only set to come out at 1.0-1.1 percent, instead of the previous prediction of 1.4 percent, he said. The Bank of Italy, the European Commission and the International Monetary Fund (IMF) have already lowered their forecasts for the eurozone's third-biggest economy. Tria said that slower growth would likely inflate Italy's public deficit, which the previous … [Read more...] about Italy cuts growth, deficit forecast
Jill Colvin Associated Press Published 2:14 p.m. UTC Jul 27, 2018 Granite City, Ill. – President Donald Trump on Thursday trumpeted the renewed success of an Illinois steel mill, pushing back against criticism that his escalating trade disputes are hurting American workers and farmers. The president pointed to the U.S. Steel plant’s reopening as a success story after he slapped tariffs on imported steel and aluminum last spring. On Wednesday, he and European leaders agreed to open talks on trade, a decision he called a breakthrough. “America never surrenders,” Trump said in an address to workers at the company’s steel coil warehouse in Granite City. “We don’t wave the white flag.” Trump held events in Iowa and Illinois a day after reaching an accord with European Commission President Jean-Claude Juncker at the White House to discuss tearing down trade barriers and address U.S. tariffs on steel imports. Trump also said the EU had … [Read more...] about Trump hails Illinois steel mill as an economic success story
JEAN Claude Juncker is the current President of the European Commission. But how did he get the job, who is he, and what has he said about Brexit? Here's our lowdown... Who is Jean Claude Juncker? Jean Claude Juncker is a Luxembourgish politician and current President of the European Commission. He was born in Redange, Luxembourg, and grew up in Belvaux. He is fluent in Luxembourgish, French, German, and English. He was the 23rd Prime Minsiter of Luxembourg, and served as the country's Minister for Finances from 1989 to 2009. When did he become President of the European Commission? Jean Claude Juncker was appointed President of the European Commission in 2014. Prior to that he served as Prime Minister of Luxembourg from 1995 to 2013. In May 2017, Mr Juncker faced awkward questions after it was claimed he was drunk during a United Nation's peace summit in Geneva, Switzerland. Diplomatic sources told The Sun at the time the EU Commission chief was "very visibly" drunk. 'GETTING ON WITH … [Read more...] about How old is Jean-Claude Juncker, when did he become President of the European Commission and what has he said about Brexit?