October 16, 2018 / 9:08 AM / a month ago

Eurogroup head sees little impact on euro from Italy's budget

FILE PHOTO - Portugal's Finance Minister Mario Centeno attends a news conference to announce the 2019 state budget in Lisbon, Portugal October 16, 2018. REUTERS/Rafael Marchante

LISBON (Reuters) - The head of the Eurogroup of euro zone finance ministers Mario Centeno said on Tuesday Italy’s budget plans targeting a higher deficit than demanded by Brussels should not be overestimated in terms of their impact on the euro and countries using the single currency.

“The euro is built on decisions taken at many various moments and places. Italy’s budget is just one of those moments and events. We should not overestimate it. The euro is very resilient and strong for it to be affected by a budget of one member state,” Centeno told a news conference.

Reporting By Sergio Goncalves and Andrei Khalip; Editing by Matthew Mpoke Bigg

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