BRUSSELS - The European Commission will not make any further mission, in addition to the standards of the European Semester, in order to verify the expenses related to Mes, and will not make any macroeconomic adjustment request, even ex post, to countries that ask for aid: the write Commissioners Dombrovskis and Gentiloni in a letter to the president of the Eurogroup Centeno, which clarifies the type of monitoring that Brussels will carry out on the new credit line.
The analysis of the sustainability of Italian debt "indicates that, despite the risks, the debt remains sustainable in the medium term, also thanks to important mitigating factors" such as the debt profile, with average maturities of 8 years that mitigate the risks of temporary increases of rates. So "even if the debt deteriorates due to the COVID-19 crisis, the debt / GDP ratio in the baseline scenario remains on a downward path in the medium term". The EU Commission writes it.
The impact of the pandemic " poses risks for the financial stability of the Eurozone , but at the same time the economic situation is fundamentally solid", writes the Commission in its assessment of suitability for the Mes called to do in view of the new credit line. In all 19 eurozone countries "public debts are sustainable, access to markets will be maintained on reasonable terms, no one is in debt or deficit procedure and for the ECB there are no solvency problems for the banking sector".
Prime Minister Giuseppe Conte and the president of the EU commission Ursula von der Leyen had a telephone conversation today focused on the preparation of the Recovery Fund and on the negotiation process for the next Multiannual Financial Framework . This was announced by Palazzo Chigi.