Economy ministry says debt-to-GDP (2)

(ANSA) - Rome, January 17 - The economy ministry on Tuesday said that the "relationship between public debt and GDP is essentially stabilised" and called it an "extraordinary result in light of the worst recession since the 1930s and comparing it to the dynamic of debt in other Eurozone countries". It said it will respond to a letter from the European Commission "in the context of the usual dialogue with the Commission" by "sending the report on relevant factors that justify the dynamic of the relationship between public debt and GDP".
    The European Commission has asked Italy for a "clear time frame" to swiftly adopt legal moves to make a further 0.2% cut to the budget deficit-to-GDP ratio and avert an infringement proceeding, according to a letter sent to Rome, which ANSA has seen. Sources said this would mean an additional budget move by the end of February.