Italian government announces 'brave and responsible' budget plan

Italian government announces 'brave and responsible' budget plan

Italian government announces 'brave and responsible' budget plan

"There's been a lot of noise around Italy, but I think the key question to focus on is not the rounding around the budget numbers that they are predicting or forecasting, but more this perception of whether the relationship with Europe is cooperative or whether it is disruptive", he said.

European Commission Vice President Valdis Dombrovskis and Economy Commissioner Pierre Moscovici penned a joint letter to Economy Minister Giovanni Tria on Friday "taking note" of the plans, which haven't yet been formally submitted to Brussels.

Juncker's words were echoed by eurozone finance ministers at a Eurogroup meeting who cautioned against Italy's budget plans.

Some European officials have outlined their reservations regarding Italy's spending plans, which for 2019 are three times higher than those that the previous government had planned.

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Juncker said earlier this week that the Italian governing coalition's pledge to press ahead with a budget deficit that will breach European Union rules endangered the euro.

The Italian Deputy Prime Minister PM Di Maio is out on the wires now, via Reuters, making some comments in reaction to the Draghi headline.

"The only ruins that I will have to scoop up are those of the lovely European dream, destroyed by people like Juncker", he said, adding that he hoped European parliamentary elections set for next May would usher in a new political age.

European Commission President Jean-Claude Juncker said Friday that he hopes Italian Interior Minister and Deputy Premier Matteo Salvini "does not end up in the situation of having to pick up a pile of rubble", APA reported.

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