Sorry for Italy but deficit margin cut (2)

(ANSA) - Davos, January 18 - European Economic and Financial Affairs Commissioner Pierre Moscovici said Wednesday "I'm sorry for Italy and (Economy Minister) Pier Carlo (Padoan) but other countries have large external surpluses" while Italy does not have similar budget margins permitting the flexibility it is asking for. Moscovici was referring to an EC request to cut the deficit-to-GDP ratio by a further 0.2% or face infringement proceedings.
    Ahead of a meeting with Padoan at Davos Thursday, Moscovici said that "I'm optimistic, my discussions with Minister Padoan are always constructive and frank. It's always a good opportunity for discussion. There is nothing to be worried about. "Italy is not the only case. There are France, Spain and Portugal".