Italy government will send revised version of budget to EU by next week: source

ROME (Reuters) – The Italian government will send a revised version of its budget to the European Union by next week, a Treasury source told Reuters on Wednesday.

Earlier in the day cabinet undersecretary Giancarlo Giorgetti said that the government could cut nearly 4 billion euros from a promised relaxation of pension rules and a new income support program.

Brussels has rejected the 2019 budget, saying it will not lower Italy’s large public debt as EU rules require, and has called on Rome to make changes to prevent a disciplinary procedure that could eventually lead to fines.

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