Govts in France and Italy still have elevated deficits and will soon land in the EU's Excessive Deficit Procedure, requiring them to hit a deficit of 3% of GDP within 4 years. Both have elections sooner than that. But the credibility of the EU's new fiscal rules depends on this.
Govts that ran primary surpluses before the pandemic are often back to surpluses again. Major exceptions are Italy, Germany or Belgium, where the primary balance deteriorated significantly. Then there is France with its large perma-deficits, one of the three certainties in life.
Así tienen la deuda :
Francia no tiene remedio:
El caso de Italia es excepcional:
Y su rating va implícito en el mal hacer de sus finanzas:
Abrazos,
PD: Francisco en la Audiencia General: “La soberbia es un veneno potente: basta una gota para echar a perder toda una vida orientada al bien. Una persona puede haber realizado innumerables obras benéficas, pero si lo ha hecho solo para exaltarse a sí misma, no puede considerarse una persona virtuosa.”
Debemos cuidar mucho nuestra rectitud de intención, que todo lo que hagamos sea para la Gloria de Dios, no para agradar nuestro ego…
