EU 'has legal basis to intervene in country economies'

(ANSA) - Brussels, October 16 - European Commission sources said Friday the EU has a legal basis to intervene in the economic choices of single governments. "We have a legal basis, all the States have signed...the Stability and Growth Pact," said spokespeople for European Commissioner for the Euro Valdis Dombrovskis and European Commissioner for Economic and Financial Affairs Pierre Moscovici. The EU is vetting Italy's draft budget, and Premier Matteo Renzi said earlier that "Brussels is not a teacher giving exams, it's not qualified to intervene".