Grilli Says Italy Doesn’t Need Bailout Funds, Repubblica Reports

Italian Finance Minister Vittorio Grilli said the country doesn’t need to tap Europe’s bailout funds, la Repubblica reported, citing an interview.

“The European Central Bank’s toolbox, once operative, will substantially reduce tension on bond spreads,” Grilli was cited as saying.

Grilli said he won’t introduce more measures to reduce the nominal deficit this year as cuts would further weaken the economy, according to the newspaper.

He said the government is studying all options to reduce the nation’s debt while ruling out a wealth tax and selling stakes in state-owned companies Finmeccanica SpA, Enel SpA and Eni SpA at current market prices, la Repubblica reported.

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