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Govt says ECB report not condemnation of Renzi's measures

Publication of bulletin 'planned', not response to premier

13 March, 13:54
Govt says ECB report not condemnation of Renzi's measures (see related story) (ANSA) - Rome, March 13 - Government sources said Thursday that the publication of a European Central Bank bulletin criticising Italy over its lack of progress on reducing its budget deficit was not a response to economic measures announced by Premier Matteo Renzi on Wednesday. Renzi presented plans to cut income taxes by 10 billion euros, invest 1.74 billion euros in social housing programs, spend 3.5 billion euros on schools and repay 68 billion euros in outstanding bills for government services by July.

"The publication was planned and therefore not a response to yesterday's announcements," the sources said.

"There will certainly be a chance to discuss (the situation) with the ECB and explain the medium-term strategies that Italy intends to pursue".

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