The European Commission has given Italy three weeks to prepare a new budget

© AFP 2018 / Philippe Mediawhat in the building of the European Commission in Brussels. Archival photo.The European Commission has given Italy three weeks to prepare a new budget© 2018 AFP / Philippe Huguen

The EC rejected the draft budget of Italy, Rome has three weeks to make a new proposal, said Tuesday the Vice-President of the European Commission Valdis Dombrovskis.

«We see no alternative but to ask the Italian government to revise the draft budget plan for 2019, and we look forward to an open and constructive dialogue», — he said at a press conference on Tuesday, adding that Rome has three weeks to make a new project.

He, in particular, noted that Italy’s debt is among the highest in Europe.

In a statement on Tuesday, the statement by the EC also notes that the Commission «believes that the draft budgetary plan of Italy to 2019 represents a serious deviation from the recommendations of the Council.» The Commission also notes that «the plan does not meet the obligations presented by Italy in its program of stability.»

«The decision taken today by the European Commission, should be no surprise, since the draft budget the Italian government represents a clear deviation from the obligations undertaken by Italy in July of last year. However, our door is not closed: we want to continue constructive dialogue with the Italian authorities», — said the Commissioner for Finance Pierre Moscovici.

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