November 17, 2019
Finance

Juncker calls on Rome to do more to save Italian economy

ROME — Italy must step up measures to spur growth, European Commission President Jean-Claude Juncker said in remarks, putting him at odds with the countrys League-5Star government.

Juncker said hes “quite worried about the Italian economys slowdown.”

Speaking at a joint press appearance with Italian Prime Minister Giuseppe Conte, Juncker said, “Considering the level of Italys public debt its very important the government focuses on growth measures.”

Conte called on other EU countries to boost public spending and stimulate the economy.

“We spoke about the slowdown of the global economy due to the U.S.-China trade war, and I told Juncker that countries that have more fiscal space should use it to support the eurozones economy,” said Conte.

“I also explained that since the Italian government had forecasted an economic slowdown we implemented expansive fiscal policies … which will not change in the upcoming [spring budget document],” he said.

Conte said there is full understanding between Rome and Brussels that the slowdown is considered a transitional factor by the EU.

Juncker and Conte took a cordial tone in the appearance. Still, the EU executives comments add to pressure on the government from the Organisation for Economic Cooperation and DeRead More – Source