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Italian Government Faces Senate Setback Amidst Budget Amendment Delays

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Quadri Adejumo
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Italian Government Faces Senate Setback Amidst Budget Amendment Delays

The Italian government has experienced a setback in the Senate after failing to secure approval for a financial maneuver due to the late presentation of four amendment texts. Consequently, the Budget Committee was unable to commence the voting process. This delay prompted Luca Ciriani, the Minister for Parliamentary Relations, to request a postponement of the financial bill's presentation to the Senate plenary session.

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Unanticipated Delays

The failure to present the full content of the amendments has led to further delays. The next attempt for presentation is now scheduled for December 18. Amidst this chaotic situation, there was also mention of an intervention by a figure known as "la manina" of Lotito, who is linked with a new amnesty provision.

EU Budget Rules: Italy's Stance

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Meanwhile, Italy's Economy Minister, Giancarlo Giorgetti, declared that Italy will not comply with new EU budget rules that it considers unrealistic. The nation has adjusted next year's deficit goal to 4.3% of GDP, up from the previous 3.7%, and has postponed a return below the EU's 3% ceiling until 2026, without a significant debt reduction plan. Giorgetti emphasized that overly stringent adjustment paths could stifle growth and exacerbate debt trends in the medium and long term.

Upcoming EU-China Summit

Furthermore, tensions are mounting as Italy withdraws from China's Belt and Road Initiative, making the upcoming EU-China summit in Beijing a potentially challenging event. The summit intends to address topics such as human rights, the EU-China trade gap, and the recent conflict between Israel and Hamas.

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