Luxembourg, 08/11/2001 (Agence Europe) - Italy has to refund its private creditors - individuals or companies - in cash or cheques, but certainly not five or ten year government bonds, as it currently does. The Sixth VAT Directive does not provide for this type of repayment, says the fifth Chamber of the European Court of Justice, presided over by Judge Stig Bahr. Italy is thus condemned for infringing Community law.
In 1994, the European Commission had been referred a complaint by people...