EU not asking 'unrealistic' adjustment (2)

(ANSA) - Rome, March 1 - The European Commission is not asking Italy to make an "unrealistic" adjustment to its public accounts, Economic Affairs Commissioner Pierre Moscovici said Wednesday, but only a "reasonable" one. He said the EC trusted Italy would "take on its responsibilities" for fiscal rectitude.
    Moscovici also said the Italian bank system was still "vulnerable" due to its high ratio of non-performing loans (NPLs). The EC has asked Italy for a further, 0.2% of GDP, cut in its structural budget for 2017 and the government has been seeking ways to achieve that goal. It must tell Brussels how it will do so shortly or face a possible infringement procedure.
    photo: Moscovici (L) with Economy Minister Pier Carlo Padoan