FM Georgiades hopes for a solution to the Italian budget issue in respect of EU regulations

Hopes that there will soon be a solution for Italy that will preserve the credibility of the stability pact, expressed Finance Minister Haris Georgiades, speaking to CNA, arriving at todays eurogroup meeting in Brussels.

The Finance Minister said he hoped to have “an agreement in November that preserves the credibility of the European Union, the rules of European economic governance, which is a prerequisite for the smooth operation of the eurozone and of each Member State.”

Haris Georgiades made it clear that he did not think “there was a dramatic atmosphere in the previous eurogroup meeting, there was only a brief discussion,” adding that “I remind you that the ?talian draft budgetary plan was not even officially submitted last month.” In connection with todays Ministerial meeting, he said, “I expect a debate to be held, but some decisions will certainly not be taken today.”

With regard to the issue of Greek pensions and the cancelation of their cuts in 2019, the Minister pointed out that “this will not be today in a definitive form on the agenda”, adding that “I believe that there can be flexibility provided, of course, that budgetary targets and commitments will be respected. “

Finally, with regard to ESM and its upgrading and at the same time the “deepening” of the eurozone, Georgiades pointed out that “I have the impression that we are reaching the conclusion of the consultations”, stating that “again decisions should not be expected today, but the timetable to have them by end November. ” “Anyway, an extraordinary eurogroup is scheduled for November 19th,” he concluded.

Source: Cyprus News Agency