Italy Set for EU Showdown Amid Pledge to Scrap Austerity

Monday, August 15, 2016
By Paul Martin

Italy is set to go head-to-head with EU member states and the European Commission on the issue of EU austerity, as Italian officials look for more spending leeway to boost the country’s struggling economy.

Following concerning statistics that showed the Italian economy achieved 0 percent growth in the second quarter of 2016, officials in Rome have pledged to try and reform EU budgetary rules.

Carlo Calenda, Italy’s economic development minister, told the La Stampa newspaper that Rome was “fighting to change” the EU deficit reduction target of 1.8 percent for 2017, a requirement set by the European Commission.

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