Residui Passivi

Residui Passivi in Europe

Description of Residui passivi

The Concise Encyclopedia of the European Union describes residui passivi in the following terms: [1] Residui passivi, or residual liabilities, are Italian state funds voted by parliament for government departments but withheld by the Treasury under its programme to meet the convergence criteria for the single currency. It is not clear to what extent these obligations will eventually have to be met. By the end of 1997 they amounted to some 15% of Italy’s GDP, and were causing concern abroad about the sustainability of the country’s new-found financial rectitude.

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Notas y References

  1. Based on the book “A Concise Encyclopedia of the European Union from Aachen to Zollverein”, by Rodney Leach (Profile Books; London)

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