TEHRAN, November 25 _Italian Prime Minister Giuseppe Conte says Rome can avoid European Union (EU) sanctions despite the bloc’s recent rejection of his government’s debt-swelling budget plan.
TEHRAN, Young Journalists Club (YJC) _Italian Prime Minister Giuseppe Conte says Rome can avoid European Union (EU) sanctions despite the bloc’s recent rejection of his government’s debt-swelling budget plan.
Conte said after talks with European Commission head Jean-Claude Juncker on Saturday that he was “confident” Italy could avoid EU sanctions since its 2019 budget would boost economic growth in the euro zone’s third-largest economy and reduce public debt.
The European Commission said earlier this week that Italy’s failure to cut its huge public debt in line with EU rules would precipitate a disciplinary process ending in a sanction of up to 0.2 percent of GDP for Italy.
The 28-member bloc also warned that the European country risked “sleepwalking into instability” and increasing its already massive debt burden by implementing the proposed budget plan.
Source: Reuters