Italy's Minister of Economy and Finance Giancarlo Giorgetti attends a press conference during the G7 Finance Ministers and Central Bank Governors' Meeting in Stresa, Italy May 24, 2024. REUTERS/Massimo Pinca/File Photo
ROME (Reuters) -European Union budget rules are "stupid and senseless" and need to be changed to allow member states to boost defence spending as recommended by Brussels, Italian Economy Minister Giancarlo Giorgetti said on Thursday.
The EU Commission has introduced flexibility clauses to allow more investment in security, but Giorgetti said their current form penalises countries such as Italy, which are under a so-called EU infringement procedure for their excessive deficits.
