(see related) Former center-right
premier Silvio Berlusconi said Thursday that the EU fiscal
compact, which imposes budget discipline on member States whose
deficits become too high, is anti-historical.
"The recession has turned into a depression, and not just
in Italy", the media magnate said.
"I am convinced we must scrap the fiscal compact and let
countries exceed the 3% debt-to-GDP ratio" required under EU
treaties that Italy is a signatory to.
"Given the current economic situation, such binding rules
are anti-historical".
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