The usefulness of the Fiscal Compact to Supersede the Domestic Stabiliy Pact

The role of the European Union with regard to national budgetary policies seems to be more direct in the recent reform of public sector accountancy (Law n. 243/2012), unlike the repealed so-called Domestic Stability Pact, whom failure, primarily concerning the decrease of public investments, has been belatedly pointed in the academic and institutional debate. Domestic Stability Pact is definitively ceased at midnight of December 31, 2015. Such recent reform seems to be hopeful for local levels of government, both in terms of tax assignment and related maneuverable local choices, safeguarding financial stability in each entity. It is time each local Italian Entity would be having the chance to get certain revenues, to spend for its own community, in a reliable and durable frame.