Two point eight billion from local agreements still not spent

The bypassing of the internal stability pact and the adoption of a less strict fiscal compact are among the measures aimed at stimulating public investments at local scale. This reform has become law a few months ago (Law 164/2016) and represents a significant step forward, even though the balance between public finance constraints and revival of investments is still rather difficult. Many expectations are put on the role of Regions in governing local authorities through…