The European Fiscal Compact
doesn't work and no one respects it, Italian Industry Minister
Carlo Calenda said Thursday.
"The debate we need to start next year in Brussels is on
the existence of the Fiscal Compact, which clearly no longer
works - nobody respects it any more," Calenda said.
"The rules on investments aren't working (and) a
forward-moving society is built on both public and private
investments, which should be considered outside the (EU)
Stability (and Growth) Pact. This battle should be fought from
within a framework of respect for the rules, and we've designed
a structured budget that respects the rules".
Investments must return to their pre-economic crisis level,
Calenda said, pointing to his Industry 4.0 plan to boost
large-scale investments, innovation and productivity unveiled in
September.
The plan reportedly aims to attract 10 billion euros in
additional industrial investments and seven billion in research
and development through tax incentives, as well as to provide
support for venture capital, ultra-broadband development,
education and innovative research centers.
Calenda said the government plans to "shock" the economy
into new life with measures contained in the next budget,
coupled with Industry 4.0 investments.
Also on Thursday, a conference of caucus leaders decided
the House will examine the government's revised Economic and
Financial Document (DEF) underlying its next budget bill on
October 12.
ALL RIGHTS RESERVED © Copyright ANSA
