Giorgetti: 'We are evaluating other avenues besides the Pact derogation'. And on excise duties: 'Working on renewal'

From excise duties to the 'many ways' to activate the European safeguard clause on energy. Economy Minister Giancarlo Giorgetti, in Paris for the G7 Finance Ministers' Meeting, takes stock of the shocks that Italia is facing: between the Ukrainian energy crisis first and the Middle East energy crisis now, our case represents 'a unicum in the whole of Europe, together with that suffered by Germany' according to the titular of Via XX Settembre.

Let's start with the Stability Pact. There is not only the derogation option, according to Giorgetti, but 'there are many ways to get there, we are exploring them all. We are working on it, it is a complex thing, I believe there is no prejudice, there is an awareness of the exceptional situation, after which there are various forms, various ways, various possibilities, we are exploring them all'.

So what are the alternatives to the derogation? The minister replied that 'there are the relevant factors that are included in the discipline that should be taken into consideration, there is the updating of public finance trends, there are so many nuances and so many interpretations that with goodwill can offer success'. On the issue that prompted the Italia government to request the derogation, 'everyone is concerned, but they are concerned in their own way, because everyone has different situations. Ours is a particular situation: France has no problems because it sails above a 5% deficit, Germany has no problems because it sails above a 3% deficit but has a very low debt. Italia has a small problem, which is a very high inherited debt and with the real risk of raising interest rates we have to be very prudent and responsible in moving and deciding'.

Let's move on to the topic of excise duties, because on Friday 22 May the third cut in fuel taxes will expire (it is now -24.4 cents per litre for diesel and -6.1 cents for petrol). On the same day, there will be a Council of Ministers meeting: on that occasion, 'the issue of renewing the discount on excise duties will also be addressed,' clarified Giorgetti, who added that he 'believes we will go in this direction'. More specifically, finally, 'measures will be taken, certainly on trucking, on local public transport, that is, the sectors impacted. We are working on financial coverage, which is never easy in the absence of derogations to the pact, so we are also preparing the meeting with the categories'.