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Italy doesn't face short-term fiscal stress, says EC

Sustainability risks medium in medium run, says Commission

18 December, 11:28
Italy doesn't face short-term fiscal stress, says EC (ANSA) - Brussels, December 18 - The European Commission said on Tuesday that Italy is in no danger of fiscal stress in the short-term.

It said that there were some possible problems in the medium term, but it should be possible to avoid these if future Italian government continue with the policy of budget discipline adopted by Premier Mario Monti's emergency administration of unelected technocrats. "Italy does not appear to face a risk of fiscal stress in the short-term," the EC said in its Fiscal Sustainability Report 2012.

"Sustainability risks appear to be medium in the medium run, while becoming low in a long-term perspective, conditional upon the full implementation of the planned ambitious fiscal consolidation and on maintaining the primary balance well beyond 2014 at the level expected to be reached in that year". Photo: European Commission President Jose' Manuel Durao Barroso