Tags: EU | Europe | Italy | Debt

EU Holds off on Legal Action against Italy over Debt

EU Holds off on Legal Action against Italy over Debt

Wednesday, 03 July 2019 01:47 PM EDT

BRUSSELS (AP) — The European Union's economy commissioner says Italy has answered concerns about its high debt and that Brussels believes it is no longer necessary to launch legal action.

Pierre Moscovici told reporters Wednesday that "an excessive deficit procedure is no longer warranted for Italy at this stage."

He says he believes that other EU member countries will agree with his assessment, but he says the commission will closely monitor developments.

The commission, which supervises the budget plans of the 28 EU member states, has said that Italy's public debt stood at 132.2% of GDP in 2018, more than double the EU's 60% limit.

Moscovici says that intense dialogue between the commission and the Italian government in recent weeks "led to a very, very significant effort" by Rome to address EU concerns.

© Copyright 2026 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


GlobalTalk
The European Union's economy commissioner says Italy has answered concerns about its high debt and that Brussels believes it is no longer necessary to launch legal action.Pierre Moscovici told reporters Wednesday that "an excessive deficit procedure is no longer warranted...
EU,Europe,Italy,Debt
132
2019-47-03
Wednesday, 03 July 2019 01:47 PM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
 
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved