Berlusconi Says Italy Risks Losing Credibility on Follow-Through
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Prime Minister Silvio Berlusconi warned that Italy will lose its credibility unless it lives up to pledges made to the European Union last night on overhauling the economy and reducing the euro area’s second-biggest debt.
“If we don’t respect our commitments, we won’t be credible anymore,” Berlusconi told reporters in Brussels earlier today. His comments came after euro-area leaders urged Italy to pursue an “ambitious timetable” to boost economic growth and cut debt that amounts to about 120 percent of output, the second most in the region after Greece.