'Will exploit new EU flexibility rules'

(ANSA) - Brussels, January 26 - Italy will put new European Union guidelines on budget flexibility "to the best possible use", Economy Minister Pier Carlo Padoan said Monday on his way in to a Eurogroup meeting of finance ministers in the Belgian capital.
    "We are assessing our options and...will exploit (the new rules) to the best of our ability," the minister told reporters.
    New guidelines from the European Commission issued mid-month will allow countries with deficits under 3% of GDP and those making significant reforms some additional flexibility in deducting certain spending from their deficits.
    The new rules are expected will allow Italy to take advantage of the investment clause with the EC's stability pact.
    Under the investment clause, countries can deviate from their medium-term budget objectives during tough times if they are spending on investments aimed at growth.
    The Commission said the rules have not changed but the new interpretation will make it easier for Italy and others to spend on infrastructure outside strict deficit and debt controls contained in the EU Stability and Growth Pact.