Home > News > World
Wednesday March 19, 2014 MYT 10:50:01 PM
Wednesday March 19, 2014 MYT 10:51:15 PM
ROME (Reuters) - Italian Prime Minister Matteo Renzi declared on Wednesday that the European Union's budget deficit limit of 3 percent of economic output was outdated but that Rome would respect its commitments even as it focused policy on growth and jobs.
"The 3 percent parameter is, objectively, an anachronistic parameter," he told parliament to applause from deputies, adding however that he would respect Italy's pledges to remain within the 3 percent threshold.
Renzi was speaking a week after his government announced billions of euros in tax cuts and growth measures which he said would be partly funded by an increase in Italy's budget deficit while respecting the 3 percent limit.
"The discussion today isn't about the 3 percent, and I repeat today that there will be no breach on our part," he said. "The subject today is about using the space that's available, not breaching the limits from Europe."
(Reporting By James Mackenzie)
Taiwan burn victim’s family feared the worst
North Korea shows captive Canadian pastor confessing before congregation
Barnacles on debris could provide clues to missing MH370 - experts
Yemen Houthi boss tells men to fight on, dismisses loss of Aden
Taiwan school textbook row highlights antipathy to 'one China'
How to manage your project cashflow
Fishing for your dinner There is nothing like landing your own catch to beat the growing cost of living
IAAF launches stern defence of anti-doping record
Trump campaign fires staffer over controversial Facebook posts
Copyright © 1995-2015 Star Media Group Berhad (ROC 10894D)(Formerly known as Star Publications (Malaysia) Berhad)