Italian budget update
The
European Union last week declared the populist Italian Government’s budget to
be non-compliant with EU rules because it exceeds spending limits and is based
on too much optimism of economic growth.
The breach will trigger punitive measures, unless the Government agrees
to modify its fiscal plan to eliminate the excessive spending. Discussions between the Italian Republic Italy ’s budget affects all the
other members of the EU. The
unprecedented step of rejecting a budget was seen by the EU members as
necessary to enforce the organization’s rules.
An accord
was reached today between the United
Kingdom and the European Union for the
former to leave the latter, as a result of the referendum approved by British
voters in 2016 and subsequently ratified by Parliament. The UK
did not share the EU’s common currency, but was part of the common market,
enjoying free trade and passport-free freedom of movement within the EU, as
citizens of other EU member states could travel to the UK . The difficult parts of the agreement were in
regard to these EU citizens residing in the UK ,
Britons residing in EU states and the borders with the Republic
of Ireland and between British-held
Gibraltar and Spain . Ireland
and Spain
are members of the EU. The controversial
deal, meant to avoid a disorderly divorce by 2019, must be approved by the
British Parliament. It risks bringing
down the Conservative-led Government.
A non-binding
referendum to deny public recognition of same-sex unions as “marriages” was
rejected yesterday by Taiwanese voters.
The Supreme Court of the Republic of China two years ago had required
their recognition, making Taiwan
the only Asian state to recognize them.
The vote is expected to influence the next parliamentary elections.
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