Italy is far from becoming the euro area's next Greece, Italian Deputy Minister Michele Geraci tells DW. People should not be worried about Rome's budget plan, with a strong focus on economic growth and consumption.
Italy has stuck to its big-spending budget plan, despite demands for changes from the EU and the threat of financial penalties. The move has sparked concerns over Italy's debt, and uncertainty from investors.
Italian Deputy Minister Michele Geraci has told DW it makes little sense to compare the Italy of today with Greece when it faced an international bailout. He defended Rome's budget plan, saying it would fuel growth.
Eurozone finance ministers have sided with the European Commission, slamming Italy's resolve to stick to its controversial budget. Brussels has rejected Rome's 2019 fiscal plan and demanded changes.
The European Commission has for the first time ever rejected the budget of a member state, as it said the spending plans of Italy's populist government were violating the bloc's debt limit and needed revision.
© 2018 Deutsche Welle |
Legal notice |
| Mobile version