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Matteo Renzi declared on Wednesday that the European Union's budget deficit limit of 3 percent of economic output was outdated but that Rome would respect its commitments even as it focused policy on growth and jobs.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)
Greece sends updated reforms, pledges to pay IMF on time
From brides to battlefield, women taking up new roles with Islamic State
India’s top court suspends summons for Manmohan
Nestlé rewards consumers with biggest promotion ever
The great South Australian adventure
Living away from Malaysia can trigger a lot of different longings
TripAdvisor’s Travellers’ Choice Award for Destinations 2015
Singer/songwriter Kelly Yu is going places
Ice-cool Ko aims to have fun at Mission Hills
Copyright © 1995-2015 Star Publications (M) Bhd (Co No 10894-D)