Initial budget goals already did damage

Govt corrected them but confidence had already fallen

(ANSA) - Brussels, February 11 - European Commissioner for the Euro Valdis Dombrovskis said Monday Italy's budget trajectory was wrong and before it was corrected thanks to talks with the EU "the damage to the economy had already been done".
    He said "we revised downwards the growth forecasts and it has to be said that also previously we had said that the chosen budget trajectory did not help confidence, financial stability, led to the increase in rates, the fall in indicators on confidence, and slowed growth".
    He said "the government corrected this trajectory considerably, but the damage had already been done".
    Dombrovskis also said it was "important" to preserve the independence of the Bank of Italy and bourse regulator CONSOB after Deputy Premiers Luigi Di Maio and Matteo Salvini called for a change at their helms citing alleged lack of vigilance over Italy's banking crises.
   

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