We'll seek compromise to avert EU procedure - Tria

(ANSA) - Rome, June 11 - Economy Minister Giovanni Tria said Tuesday that the government will seek to reach a compromise with the European Commission to avert the threat of the opening of an infringement procedure. The European Commission said last week that an infringement procedure would be justified for Italy's failure to comply with the debt rule, while stressing that the proceedings have not been opened yet and it is open to talks.
    "The government's attitude will be constructive," Tria told the Lower House.
    "We will reiterate our reasoning to the other European countries and we'll try to find a reasonable point to meet at.
    "We'll have to be willing to undertake constructive dialogue that will enable us to reach an agreement to avert the procedure. "While we're still convinced that the EU rules need to be improved and simplified, it is in our interest to find a compromise".
    Tria added that the government was "ready for initiatives ot balance the books" and that he was "certainly" supported by the whole government. Deputy Premiers Matteo Salvini and Luigi Di Maio, the respective leaders of the League and the 5-Star Movement (M5S), the two government coalition partners, however seem less inclined to bow to pressure from Brussels.
    On Tuesday Tria also spoke about the need to "normalize" the Italian bond spread, which has recently risen amid the tension linked to Italy's public finances. He said this was necessary to have sustained economic growth.
    Premier Giuseppe Conte said Tuesday that his government was committed to bringing down Italy's public debt but would not pass measures that could spark a recession. "I am absolutely confident about the capacity for dialogue of our government and of the European Commission," Conte said at the assembly of the Assonime association of joint-stock companies in Rome. "An infringement procedure would be extremely damaging both for our country's growth prospects and for those of the whole eurozone. "The government is committed to agreeing a credible path of debt reduction with our European partners, within a framework of social sustainability, without passing depressive budgets. "That would contradict the agenda to boost growth that was adopted last year".