According to sources at the Treasury, in response to a proposal put forward by the Italian Government the European Council in Nice has already made a decision concerning the opening of a credit line by the EIB of 30 thousand million euros to help small and medium sized businesses.
As far as support for the real economy is concerned, the Treasury has confirmed the line taken by the Government to the effect that development cannot be achieved by increasing the deficit and public debt, as this leads only to an increase in taxation. Support for the European economy and the economy in Italy is only possible by generating public demand in Europe for investments in infrastructure that serve the common interest.
During its EU presidency in 2003, the Italian Government relaunched the Delors plan, comprising a Eurobond issuance for large scale public investment in Europe. The Italian Government maintains this line; in addition, at the European Council in Nice it put together a proposal to establish a European investment fund by creating a network between the EIB and the deposits and loans banks in each member state.
It is not the largest Italian public deficit - ruled out given the size of the Italian public debt - but the issue of European public demand that the Government and the opposition, each playing their part, can debate and take action on according to the basic laws of logic, in the interest of the country as a whole.