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MNI POLICY: EC Says Italy Warrants Debt-Based EDP

By Jason Webb
     LONDON (MNI) - The European Commission said Wednesday an Excessive Debt
Procedure was warranted for Italy due to its high level of public debt.
     "For Italy, the report concludes that a debt-based EDP is warranted," the
Commission said in European Semester 2019 Spring Package, in which it also said
it abrogated an EDP for Spain.
     "In Italy, prospects for growth and public finances have worsened, and
recent policy measures enacted backtrack on elements of previous reforms,
including relating to the pension system," the Commission said. "However, its
reform strategy builds on major reforms already in the pipeline in different
areas, showing broad continuity compared to past National Reform Programmes."
--MNI London Bureau; +44 203 865 3829; email:
[TOPICS: MFIBU$,M$E$$$,M$I$$$,M$X$$$,MC$$$$]

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