Moscovici: Italian budget entails risks for businesses and citizens

European Economic Affairs Commissioner Pierre Moscovici said on Tuesday that the Italian budget was among the "uncertainties" that weighed on Europe and the European Commission's strictures on the 2019 budgetary plans had not yet "found a response". Moscovici cited global trade tensions, Brexit and the Italian budget as the three main uncertainties weighing on Europe, ANSA reported.

Moscovici believes that the Italian budget entails risks for Italian businesses, savers and citizens. "This risk has a name: it is called debt at 130% of GDP." Moscovici also said the EC would keep making efforts" to find shared solutions for Italy and the EU, stressing that "sanctions are always a failure". Meanwhile Italian Deputy Premier Matteo Salvini pointed out on Tuesday the government would not send a new budget document to the EU. "There will be a budget that it is parliament's job to approve and it would at the very least ungenerous that someone from Europe should take sanctionary measures before the budget even exists," he said.





Similar articles