PM Draghi-'No Risk To Italian Debt From Slowdown'

Speaking in a presser following the conclusion of the European Union leaders meeting in Versailles, France Italian PM Mario Draghi states that "There are no risks [to Italian debt from a slowdown]. We are able to face a temporary slowdown in the economy and arrive at the end of the year with another good year of growth. But war and sanctions have increased the clouds over growth."

• Draghi: "Today, from what is understood, President Putin does not want peace, the plan seems to be another. I hope that as soon as possible we will see some glimmers [of hope] and we will do everything to ask that peace be reached soon"
• Draghi on the 'War Recovery Fund' idea: "It was not discussed in detail, I felt that the time was not ripe. The Commission will then present a proposal. These financial needs have such a dimension that they have no place in the budgets of almost any country."
• Draghi on Italian defence spending: "You have to spend a lot to get from 0.6 to 2% [of GDP on defence spending], but it turned out that we already spend a lot compared to Russia's defense spending. What is fundamental is coordination: we need to define a European defence strategy"
• Draghi says EU needs fiscal response to current crisis triggered by Ukraine war, that EU sanctions on Russia may become still stronger, and the EU agrees we must reject protectionism and support families and households.