This Friday, the newspapers highlighted a reserved meeting held on Wednesday by the President of the Republic, Sergio Mattarella, and the President of the European Central Bank (ECB), Mario Draghi, in the Quirinal Palace. With the risk premium in the clouds, in the vicinity of 300 points, Draghi wanted to personally express to Mattarella his concern for the state budget and the risks that Italy is running in the event that an attack against the markets is unleashed. the public debt securities, with an even greater increase in the risk premium and interest rates that could be at unsustainable levels for Italy. March 2019 Calendar Template The president of the European Central Bank, which in recent times has made some public warnings to Italy , considers that the Italian populist government is underestimating the context in which the budgets have been drawn up, whose final data was known on Thursday night. Given the pressures received, to avoid isolation and appease the markets, the Government took a slight step back, after assuring at the outset that the deficit would be 2.4% for each of the next three years.
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The Executive has confirmed some budgets thinking about the elections: the deficit will be 2.4% in relation to the GDP for 2019, that is, three times more than what the Executive of Paolo Gentiloni had foreseen; but it will fall to 2.1% in 2020 and reach 1.8% in 2021. At the mercy of the markets. The serious problem with these expansive budgets is that the public debt will increase, which already reaches a monstrous figure: two billion three hundred billion euros, which represents 132.5% of GDP. March 2019 Printable Calendar In the last two and a half years, the ECB’s “Quantitative Easing” (Quantitative Expansion) has made the risk premium and the cost of public debt low. But considering that Italy needs Every year 400,000 million euros in public debt securities are placed on the market, the cost can be very high if the markets lose confidence in Italy. Especially since the program of purchase of public debt (quantitative expansion) of the ECB will end on December 31, 2018.
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The next day Italy will be without that precious network. In case of difficulty, it would have as its only lifeboat to use the OMT program (monetary transactions of sale), through which the ECB can acquire unlimited sovereign debt in the secondary market of the country that previously requested financial assistance to the Eurogroup. Obviously, that aid program should be agreed with the European Commission and the Save-States Fund, also known as ESM, the European stabilization mechanism of the euro. “The worst scenarios are no longer just a remote hypothesis, but a concrete eventuality,” wrote the newspaper “La Stampa” on Friday, in an article entitled: “The alarm of the European Commission is triggered: Italy is too big to be saved » The reality is that the case Italy is disturbing the European institutions about the possible consequences of a crisis in Rome. “An intervention by the Save-States Fund would be impossible.”
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Notice from Dijsselbloem In the next five years, Rome would need about 200,000 million euros a year to finance its public debt and the capacity of the Save-States Fund would soon prove inadequate », has written in his book “The crisis of the euro” the Dutch Jeroen Dijsselbloem, former Minister of Finance and president of the Eurogroup until January 2018. Faced with the fears of European institutions and markets, the Economy Minister, Professor Giovanni Tria, explained the budgets with an empty rhetoric because it does not specify anything: «Our government action will unite growth and fiscal discipline, honoring the commitments of growth of the economy, but also those of progressive reduction of the public debt». In fact, Professor Giovanni Tria is a very weak technician because in the Government the criteria of the populist leaders of the coalition of Government, the vice-presidents Matteo Salvini, secretary of the League and Minister of the Interior have been imposed; and Luigi Di Maio, Minister of Labor and Economic Development.
March 2019 Calendar
For those who retired after 1999, the average life expectancy is 34 years, which is very close to the European average of 35 – says Hrelja. He welcomes the proposal to allow the retirees to work, but because of the prolongation of work until 67 and the rigid penalization of early retirement, he will not vote in Parliament for retirement laws. The state of the Croatian economy and the labor market, as well as the pension and tax reform, was spoken by Boris Vujčić, Governor of the Croatian National Bank. In a situation where, in the future, the main constraining factor for domestic GDP growth is the lack of available labor, and he argues that it is normal that the ministry proposes a longer stay in the world of work. Demographic trends in Croatia reduce the availability of labor, which would in the period from 2015 to 2040 could be reduced by 520,000 people or by about 20 percent – Vujčić said and continued to solve the problem in three ways – prolonging working life, immigration, ie foreign workers’ access, and automation.
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The Government of Andreja Plenković could settle the settlement with another reform that has been invoked for many years by experts – by changing the electoral legislation. In the Department of the Ministry of Administration, according to the 2019 Normative Activities Plan for Advising the Interested Public, to amend even seven laws, including a package of electoral laws that would lead to a more powerful influence on the choice of councilors and deputies through preferential votes. The number of members of election commissions and polling boards would also be reduced, all for savings. Also, it is very likely that the list of criminal offenses would be widespread that would eliminate their perpetrators from the electoral lists in advance, and the current experience with collecting signatures to hold two referendums is best evidenced by both the pre-referendum activities and the process of collecting signatures , necessary changes.
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Brigadier Mijo Validzic, the commander of the Armed Forces Mechanized Brigade, said that the army in Vukovar has so far removed about 120,000 spatial meters of various construction waste, settled over 40,000 square meters of land, and brought over 25,000 square meters of land covered with plants. In the next few months, the HV intends to remove 47 demolished buildings in Vukovar.Vukovo Mayor Ivan Penava said that the cooperation between the HV, the Ministry of Defense and the City of Vukovar is at a premium level.
The European and International Confederation of Trade Unions, as well as the unions of the neighboring countries and the EU countries, sent the protest protests as well. March 2019 Calendar with Holidays Several thousands of protesters from all over Croatia wore union flags and features and transparencies, among others, saying “Take the poor , we give the rich, “” Expect resistance, we are just starting! “,” We want Croatia for workers, not just for politicians! “,” From a bargain on a bargain, from work to a cemetery “,” We built, you banged, “Penalization = Safe Way to Poverty”, “You Have to Work Longer, say 9,000 Kuna Retirement Shelters,” “Pension Reform – Work Longer, Receive Less”, “For More Retirement Pensions, Not for Preferred!”, “Eliminate Preferred retirements “” As long as our living heart falls, we will work on pensions “and others.