Asks for revised plan in 3 weeks
- Italian government is openly and consciously going against past commitments made on budget
- EU built on trust, same rules for everybody, if trust is eroded, all in the EU suffer
- EU commission may reassess its decision in May not to put Italy under disciplinary action
- Experience has shown higher fiscal deficits, debt do not bring lasting growth, make economy vulnerable
- We now have 3 weeks of intensive dialogue with Italy, ball in Italy's court
- Italians cannot cure debt with more debt
