Italy will be responsible and
selective in its budget policy, Economy Minister Giancarlo
Giorgetti said after the European Commission opened an excessive
deficit procedure against Rome Wednesday.
"This procedure was amply predicted and we will go forward on a
path of responsibility," he said, stressing that "we will be
responsible and selective".
What resources there are, he stressed, would "inevitably" go to
the most vulnerable and "exposed" individuals.
He said that the government would confirm a labour tax wedge cut
and this would not be "in deficit", and welcomed the new Basel
rules on banks as a "step forward".
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