The priorities of the Italian Council Presidency were outlined to the various parliamentary committees by Italian ministers on 2, 3 and 22 September, following a first series of meetings held on 22 and 23 July.
Economic recovery is losing momentum; European Central Bank President Mario Draghi told the Economic and Monetary Affairs Committee on Monday, citing slowing growth in the second quarter and less than encouraging economic indicators in the summer. "The weak credit curb, high unemployment, political and geopolitical tensions could work against the necessary confidence the ECB is trying to build", he explained.
Fiscal measures, such as shifting taxation away from labour, should play a bigger role in combating the crisis, Eurogroup President Jeroen Dijsselbloem told Economic and Monetary Affairs Committee MEPs on Thursday. But flexibility in implementing the Stability and Growth Pact pact is also needed, because this pact is “the anchor for confidence and it would be self-defeating to break it", he underlined.