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Matteo Renzi declared on Wednesday that the European Union's budget deficit limit of 3 percent of economic output was outdated but that Rome would respect its commitments even as it focused policy on growth and jobs.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)
Italy's Renzi says EU deficit rules outdated but will stick to limits
Renzi says Italy will propose new EU rules on budgets
Italy may need EU approval if reforms push debt limits - minister
Buoyed by EU vote, Italy's Renzi seeks change in Brussels
Italy's Renzi brushes off talk of EU mocking over budget
French trial over hit-and-run death suspended after lawyer attacked
Can man-of-the-people Widodo micromanage 240 million Indonesians?
NATO wrestles with new fast-reaction force prompted by Ukraine crisis
Calm comes to troubled Ferguson, mass arrests at California rallies
Tanzania PM sidesteps calls to quit over graft claims
France warns African leaders against trying to keep power
Egypt’s Sphinx open to visitors again
China Internet giants in tit-for-tat battle for users
Copyright © 1995-2014 Star Publications (M) Bhd (Co No 10894-D)