ROME (Reuters) - Italy will have to obtain authorisation from European authorities if its plan to pay off arrears of commercial debt by public authorities leads it to breach EU borrowing limits, Economy Minister Pier Carlo Padoan said on Wednesday.
Prime Minister Matteo Renzi earlier pledged to free up funds to pay off 68 billion euros (56.94 billion pounds) of commercial arrears by July but there has been considerable confusion about whether it can do so while still respecting EU debt and deficit rules.
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