EAN: 9783954891245

ITALY BETWEEN THE EU AND BERLUSCONI EFFECTS OF ...

The aim of this study is to investigate whether the reduction of the Italian public debt
between 1994 and 2004 and the increase after 2004 is due to internal or external factors. Given
the current debt crisis in Europe  this is a fundamental question since it may demonstrate if
Italy - and states in general - are able to handle their fiscal problem by themselves or if
they need external help. The evidence  in the form of a detailed analysis of parliamentary
debates and newspaper articles  will show that Italy was able to reduce the public debt only
when pressured from outside and that the external constraints of the European Union in the form
of Maastricht Parameters greatly impacted the level of Italian debt. Once Italy complied with
them and became a member of the European Union  the effect disappeared and the Italian public
debt started increasing again. Internal factors do not appear to have played a role. In
particular  the qualitative study of parliamentary debates on the budget shows that the level
of polarization and the role of veto players caused by it have remained constant and therefore
can't be used to explain the variation in public debt.

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