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BREAKING NEWS

Up to Italy to prove it's reducing debt - EU's Moscovici

Up to Italy to prove it's reducing debt - EU's Moscovici
FILE PHOTO: European Economic and Financial Affairs Commissioner Pierre Moscovici holds a news conference at the EU Commission headquarters in Brussels, Belgium, June 5, 2019. REUTERS/Francois Lenoir -
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FRANCOIS LENOIR(Reuters)
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PARIS (Reuters) – EU Economics Commissioner Pierre Moscovici renewed pressure on Italy on Thursday over its public finances, saying it was up to Rome to prove it was bringing its deficit and debt under control.

The European Commission said on Wednesday that Italy’s rising debt broke EU rules, opening the way for a possible disciplinary procedure that could be stopped if Rome took steps to start reducing its debt.

“It’s up to Italy to bear the burden of proof that it’s reducing its deficits and debt,” Moscovici told the European affairs commission of the lower house of France’s parliament.

“I said it (on Wednesday), my door is open to talk, to listen and to take note,” he added.

(Reporting by Leigh Thomas and Yann Le Guernigou; Editing by Sudip Kar-Gupta)

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