ROME (Pakistan Point News / Sputnik - 05th June, 2019) Italian Prime Minister Giuseppe Conte said Wednesday he was optimistic that Rome could avoid EU disciplinary action over excessive public debt.
The European Commission said in a statement earlier in the day that Italy's runaway debt warranted an excessive deficit procedure.
"I am full of optimism and determination and will make every effort to avoid it [procedure]. It is obvious that no good will come of it," Conte told reporters.
Commission Vice-President Valdis Dombrovskis said that Italy's debt of 132.2 percent of its gross domestic product did not comply with EU rules. EU member states have two weeks to confirm the commission's conclusion.
