Conte welcomes talks with EU, but will not change big spending budget
145 views · Published 29 November 2018 · 1:10 · Indexed 7 October 2026
Channel: AP Archive · 2018 · News & Politics
(24 Nov 2018) Italy's Prime Minister Giuseppe Conte said Saturday that constructive dialogue between Europe and Rome over its 2019 budget was in both parties' interests, but that the government does not want to give up on its promised reforms. Conte was speaking on the sidelines of a regional meeting in Rome and ahead of a discussion with EU Commission President Jean-Claude Juncker later on Saturday on the contended budget, which Brussels has demanded Rome revise. Conte had said on Thursday that the government will speed up investments to help economic growth, but that the main points of its big-spending budget plan would not be changed despite the EU's warning it is in serious breach of the rules. Conte and his top ministers remain committed to trying to persuade European partners of the need to increase spending sharply, despite repeating warnings that the plan would hurt the economy by saddling it with more debt. The EU Commission has this month raised the stakes, urging Italy's fellow countries in the euro to consider sanctions against the country for so blatantly breaking the union's fiscal rules. Italy's new populist government says the spending plans are necessary to boost growth after years of austerity measures. They also maintain electoral promises to do away with an unpopular pension reform that could see thousands retire in the coming months, and to introduce a basic salary for job-seekers. But the standoff with Europe is having an impact on Italy's finances. Investors are snubbing Italian government bonds amid concerns over the budget dispute. Find out more about AP Archive: http://www.aparchive.com/HowWeWork Twitter: https://twitter.com/AP_Archive Facebook: https://www.facebook.com/APArchives Instagram: https://www.instagram.com/APNews/ You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/d47355dcbaa74400ba6802cac7722c4b
