Italy is "moving in the right
direction" on paying its massive unsettled bills to
private-sector suppliers, which means it may avoid incurring
disciplinary EU procedures, Industry Commissioner Ferdinando
Nelli Feroci told ANSA on Tuesday.
Italy's government sent the EC a 53-page letter Monday
night, detailing how it plans to pay down debts it has racked up
with commercial creditors while also trying to cut the budget
deficit as the economy contracts.
The most salient point is that the government has allocated
56 billion euros to pay bills which it and previous
administrations have accumulated so far.
The document also lists planned measures to prevent such
debt from accumulating again, including a deal with banks,
creating a guarantee fund at the finance ministry, and waivers
from Italy's internal stability pact for regional governments.
"I can't disclose in advance how the Commission will
analyse the letter, but it contains a series of elements that go
in the right direction," Nelli Feroci said.
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