EU Finance Ministers Urge Italy to Obey Budget Rules

EU finance ministers and officials have warned Italy that it needs to bring its public finances back into line with the bloc’s rules, saying previous commitments to rein in its debt must be honoured, the Financial Times reported. Arriving at an EU meeting in Luxembourg, France’s economy minister urged Rome to “accept the hand” extended by the European Commission, which last week warned Italy that it was in breach of its obligations while stressing that Brussels was open to discussions on what action needs to be taken. “My message to Italy is to accept the hand that has been extended,” Bruno Le Maire said. “It’s in the interest of all the eurozone members to stick with the common rules.” Read more