Corriere della Sera daily newspaper reported today that the European Commission has asked Italy to save EUR 2.5 – 3.0B in their 2019 budget before getting approval. However, having cut deficit target from 2.40% to 2.04% of GDP, Italian Economy Minister Giovanni Tria said both Deputy Prime Ministers Matteo Salvini and Luigi Di Maio opposed further cuts.
European Commissioner for Economic and Financial Affairs Pierre Moscovici said today that he’s “been working hard, almost day and night … so that Italy will not be sanctioned either:” He added that “we’re working non-stop as part of a dialogue so that Italy can carry out the policies it wants, while respecting the rules.”
