Ahead of a meeting of euro zone finance ministers Italian Economy Minister Giovanni Tria insisted that no additional measures are needed over its budget. But Italy can still seek a deal with EU to avoid the excessive deficit procedures. He said “we will explain we will reach our targets over deficit… we don’t need additional measures, (but if needed) we will adopt them”. And what will happen at the Eurozone finance minister meeting by July 9 is that ” we will seek a deal.”
Eurogroup President Mario Centeno warned that reducing Italy’s debt “is of utmost importance for growth, for the stability of the euro zone.” And, what he expected to hear from Tria was “that the targets that were committed by the Italian government at the end of last year are achieved”.
European Commission Vice President Valdis Dombrovskis reiterated that “substantial corrections” is needed in Italy’s budget to meet fiscal targets for 2019 agreed with the European Commission last December.
