• Maneuver, EU letter to Italy: "The plan does not respect the debt reduction target"
  • Change the maneuver: prison for evaders, return for cards and POS
  • Accord Conte-Di Maio, change the maneuver: prison for evaders, postponement for cards and POS
  • Maneuver, majority summit goes on. Cdm start slide
  • Maneuver. Face to face Conte-Di Maio and then the summit. The EU asks for clarifications


October 22, 2019 "There is a letter from Brussels to which the Minister of the Economy will respond providing necessary clarifications. We are not at all worried, it is a normal interlocution with Brussels to which we will not withdraw", said the President of the Council, Giuseppe Conte , by the assembly of Confesercenti, to reassure investors. As for the spread "it has been reduced in this last part of 2019 and will allow us to save up to 18 billion euros, leading to a reduction in the debt-to-GDP ratio. We will work to reduce the spread even more and markets may still believe in more in us ", Conte concluded. Words that reveal the tranquility of those who know that we should not expect a tug of war between Rome and Brussels.

Moscovici confident
Even the Commissioner for Economic Affairs, Pierre Moscovici, would like to point out that the situation is very different from last year, when the Commission forced the Cinquestelle-Lega executive to rewrite the entire maneuver. Pierre Moscovici speaks on the sidelines of the plenary session of the European Parliament in Strasbourg. Ensures that there is no crisis with Italy on the budget. "With the letter sent to Rome - he says - we are not asking for changes to the budget objectives". The communication, he adds, "is different from that of the last time", the one received by the government last year with the request to modify the targets. In short, there will be no total revision or, as had happened in 2018, the request to lower the deficit.

Waiting for clarifications
However, the EU executive awaits further clarification. Also because this year's target is not very far from last year's initially placed at 2.4%. According to the Commission's preliminary assessment, the 2020 maneuver does not follow the recommendation to cut spending. The draft "does not respect the 2020 debt reduction target", reads the letter. "We are in a process of positive dialogue with the Italian government, the role of the commission is to establish objective facts, what goes in the right direction, and to note a certain number of adjustments with respect to the rules", concluded Moscovici.

Internal differences
It remains to be seen how the maneuver will come out of Parliament. But there is time for this, and the Commission's final judgment will only come on November 20th. There are conflicting positions in the government majority. The agreement reached during the night foresees that the prison for the great evaders enters the fiscal decree. Provision ordered by the 5 Stars, as well as the reduction of penalties for merchants who refuse payments with Pos. The plant is not modified: the fine of 30 euros remains, plus 4% of the transaction value, but the rules will enter in force only from July 1st. A functional slip to lower the costs of credit card fees and payment devices. The agreement on VAT numbers with an income of up to 65 thousand euros is more complicated. We are moving towards a loosening of the tightening: the full flat-rate regime remains, without the introduction of the analytical calculation of income, but there is still no agreement on the other posts for access to the subsidized regime, such as the ceiling on investment costs .

The Befana bonus
They all agree on one thing, starting with Conte: the Befana bonus is ready. Whoever will pay with the debit card or credit card in restaurants, car shops, hairdressing salons and other places from 1 July 2020 will be guaranteed the prize. It will arrive on 6 January 2021 and will be equal to 19% of the expenses incurred.