Foreign Minister Angelino Alfano
on Tuesday ruled out the possibility of Rome passing measures
that could threaten growth after the European Commission
requested an adjustment in its structural deficit. "It's an
important moment because we are returning to the path of growth
and so we can't let them put sandbags on the path of growth,"
Alfano said on the fringes on a conference for industrial
employers association Confindustria. "Our response can only be
negative... we cannot accept a budget that depresses the
glimmers of growth". The European Commission has asked Italy for
an extra budget cut equivalent to 0.2% of GDP, or about 3.4
billion euros, or risk an infringement procedure. Premier Paolo
Gentiloni and Economy Minister Pier Carlo Padoan have also come
out against a supplementary budget that would cramp growth
potential. Italy must reply to the EC's letter by tomorrow
outlining the measures it means to take.
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