Italy’s Meloni might water down money funds plan after EU talks By Reuters

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© Reuters. FILE PHOTO: Italian Prime Minister Giorgia Meloni speaks throughout a information convention to current her authorities’s first price range in Rome, Italy, November 22, 2022. REUTERS/Remo Casilli

ROME (Reuters) – Italy’s Prime Minister Giorgia Meloni mentioned on Sunday that she might water down plans to make it simpler to settle small funds with money quite than playing cards, following talks with the European Fee over the problem.

Meloni’s right-wing authorities has introduced a 2023 price range that scraps fines for retailers who refuse playing cards for funds below 60 euros ($63.23), in a transfer seen as going towards the spirit of commitments taken with the EU.

“Till 60 euros, we wish to not power retailers to simply accept digital funds. However as an instance that the 60-euro threshold is indicative, for me it might even be decrease,” Meloni mentioned in a video posted on Fb (NASDAQ:).

“Apart from, there are clearly discussions on this with the European Fee, as a result of the problem of digital funds is without doubt one of the problems with the [EU recovery plan], so we’ve got to see, we’ll see how the discussions finish,” she added.

Italy is the largest recipient of the EU’s post-pandemic restoration fund, standing to obtain round 200 billion euros by means of 2026. However in return, it has to adjust to a sequence of reform “targets and milestones.”

Considered one of them, hammered out below the previous administration of Mario Draghi, was the introduction of sanctions for retailers who refuse card funds, as a part of measures to battle tax evasion.

Meloni insisted that making it simpler to pay money was not a backhanded means of serving to tax dodging – an endemic drawback in Italy, the place greater than 100 billion euros are evaded annually, in response to Treasury information.

She mentioned the identical about one other controversial proposal from the draft price range, which has but to be accredited by parliament: elevating the cap on money funds to five,000 euros, from a restrict of 1,000 euros that was on account of kick in on Jan. 1.

($1 = 0.9489 euros)

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