Italy remains under observation because of its macroeconomic imbalances but Brussels acknowledges progress in many fields including the labour market, schools, the civil service and banks, according to a report on macroeconomic imbalances in EU countries that will be on the European Commission's agenda Wednesday. The EU encourages Italy to make more progress but highlights the persistence of overly high debt-servicing costs, the report says. The EC is yet to give its final verdict on Italy's 2016 budget which is expected to be issued in the mid-March. Premier Matteo Renzi on Monday hailed the reforms he has made in two years in office, saying they had got Italy moving again.
Premier Matteo Renzi said Tuesday he would welcome European Commission President Jean-Claude Juncker "to the most beautiful country on Earth" when the EC chief visits Rome Friday.
Renzi was asked on Italian radio how he would welcome Juncker after a series of spats in recent months.
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