Fiscal Freedom in the Eurozone?
Italy's draft budget is the latest evidence that the EU fiscal framework, according to which national budgets are supposed to comply with common rules, is broken. To prevent an eventual disorderly breakup of the eurozone, a new framework must be devised.
https://prosyn.org/Anj57AM
LONDON – Italy’s government has approved a draft budget that would fund its expensive election promises by violating European Union fiscal rules for at least the next three years. With that, the populist coalition – comprising the anti-establishment Five Star Movement (M5S) and the far-right League party – has seemingly confirmed fears of populist-fueled instability in Europe.