European Commissioner Pierre Moscovici said it’s a “good signal” that Italy’s budget trajectory has been revised “because it shows that the Italian authorities are hearing the concerns and remarks from their partners and the European Commission.” However, he also warned that “If it is 2.4 percent, it’s possible that the structural deficit will not be within the bounds of the (EU) stability and growth pact”.
On the other hand, Italian Economy Minister Giovanni Trial said “even with a deficit goal that takes us further away from the structural adjustment requested by Europe, it doesn’t seem to me that it can be said this government is carefree on spending or that it’s going to blow apart public accounts to keep promises.”
