FUKUOKA, Japan - The European Commission expects strong support from euro zone finance ministers for the view that disciplinary steps against Italy are warranted over the country’s growing debt, European Economic Commissioner Pierre Moscovici said on Sunday.
“I expect strong backing from the member states to the approach of the Commission,” Moscovici said on the sidelines of a meeting of finance ministers and central bank governors of the world’s 20 biggest economies in the Japanese city of Fukuoka. “I think Giovanni Tria is very conscious of that, he met not only me in bilateral meetings, there were several meetings between the Europeans,” Moscovici said.
But Italy’s public debt, the second highest in the EU in proportion to output after Greece’s, rose from 131.4% of GDP in 2017 to 132.2% in 2018.
Source: News Formal (newsformal.com)
end austerity now
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