August 1, 2021

The Eurogroup asks Italy to catch up "soon" the "concerns" that its deficit target has generated

The Eurogroup asks Italy to catch up "soon" the "concerns" that its deficit target has generated


The president of the Eurogroup, Mário Centeno, on Monday urged the Italian government to tackle "soon" the "worries" that the announcement of setting a public deficit target of 2.4% of GDP for the next three years has generated. time that has indicated that it corresponds to the Executive of Giuseppe Conte to demonstrate that it has a budgetary project "sustainable and credible"

"The situation on Italy was not on today's agenda, but recent announcements by the Italian government have raised concerns about the budget path, concerns that need to be addressed soon," he said at the press conference after the meeting of ministers of Finances of the euro zone (Eurogroup) in Luxembourg.

The Italian Minister of Economy and Finance, Giovanni Tria, explained to his euro partners the recent decision of the Italian Executive and then a "good exchange of opinions" has taken place, as the Portuguese has pointed out.

"We are all aware of what is at stake, we are all united by the euro and we need policies to protect it," the Eurogroup president said, adding that it is up to the Italian government to demonstrate that it has "a sustainable and credible budget plan" .

In any case, Centeno has indicated that the meeting on Monday "was not the time for an in-depth debate" because it is still necessary for Rome to specify the "details" of its budget plan for 2019.

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