EU calls for concrete, substantial changes to Italy budget

BRUSSELS (Reuters) – The European Union executive welcomed on Monday a change of tone from Italy in its dispute with the bloc over its excessively expansionary 2019 budget, but called for concrete, substantial changes before halting disciplinary action.

“We are currently in intensive discussions with Italian authorities … so now I would say the ball is on Italy’s side whether Italy comes with substantial adjustments to the 2019 plan,” European Commission Vice President Valdis Dombrovskis said.

“It is positive that the tone of discussion has changed but it is also necessary that there is a substantial adjustment to the 2019 budget,” he said on entering a meeting of euro zone finance ministers where Italy’s budget will be one of those discussed.

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.