00:00Now, as regards the procedure, here, indeed, Italy is under EDP.
00:06For a possible abrogation to occur in 2025, the budget deficit would have to be below 3%, irrespective of the
00:14next.
00:15So irrespective of the national escape clause, that's, let's say, criterion number one.
00:20And then criterion number two is that the forecast for 2026 and 2027 would have to indicate that the budget
00:29deficit would remain below 3%.
00:31But here, the national escape clause would be taken into account.
00:36So these are the underlying dynamics that are at play in this context.
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