Economics
Italy Seeks Dialogue on ‘Necessary’ Breach of Deficit Rules
- Tria promises to ensure there’s no overshoot on budget gap
- EU Commission to discuss Italian response at Tuesday meeting
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Italy’s populist government told the European Union that it is willing to temper its budget for next year, but it needs to break deficit rules to help out its poorest citizens.
In a letter to the European Commission published Monday, Finance Minister Giovanni Tria said he won’t let the country’s budget deficit widen further than the 2.4 percent target for 2019. He said he knows that the plans don’t comply with EU rules and he wants "constructive" talks with officials in Brussels. Prime Minister Giuseppe Conte said the shortfall could even come in below target.