Analysts from the European Union
are poring over the Italian government's books, ferreting out
"macroeconomic imbalances" as well as assessing efforts to fight
tax evasion, officials said Monday.
But the core of the work that will continue through
Wednesday is assessing how serious Italy is about structural
reform and dealing with fiscal problems including debt and
deficit.
EU experts are meeting with staff from the Italian
ministries of economy, justice, and education as well as the
Bank of Italy, and even employers' group Confindustria as they
analyze how effect the government's reform work has been.
That is crucial as the government of Premier Matteo Renzi
has been pressing hard for extra wiggle room on EU deficit and
spending ratios based on Renzi's claims that significant
progress on reforms is being made.
Renzi has been pushing through major changes to the
country's outdated labour legislation, and is working on
electoral and judicial reform as well as changes to the
education system.
His proposed 2015 budget is still being assessed by the EU,
which has said it will give a final judgement in March.
If the budget is found to be too seriously out of balance,
the Italian government could face penalties.
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