Comments by European affairs minister Pierre Moscovici
- Italy should limit its debt to secure its creditworthiness
- Italy must reduce structural deficit
- EU is closely monitoring Italy's budget plans
A bit of a passive-aggressive approach being taken up in handling Italy it seems.
The clock is ticking and time is running out on Italy's budget deficit planning. On 27 September, they will release an indicative plan of their fiscal deficit via the Economic and Financial Document. And then on 15 October, they must submit a draft budget to the European Commission.
And even after that the budget still needs to come back to Italy's parliament for approval. Expect plenty of twists and turns to come along the way.
