Italy’s Conte says not getting “hung up” over decimal places in budget

SALZBURG, Austria (Reuters) – Italy’s government is not getting “hung up” over decimal places as it prepares the 2019 budget, Prime Minister Giuseppe Conte said on Wednesday, amid market fears the cabinet might sanction a surge in deficit spending.

Speaking ahead of a European Union summit, Conte said the budget needed to be “courageous” but also had to be credible in the eyes of financial markets, which sold off Italian bonds heavily over the summer on fears of a big jump in spending.

“We must not get hung up on decimal places. We must be credible with respect to ourselves as a government of change and with respect to the markets, because we are calling on markets to invest (in Italy),” Conte told reporters.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.