November 5, 2018 / 8:30 PM / 15 days ago

Euro zone wants Italy to cooperate with Commission on revised budget: statement

BRUSSELS (Reuters) - Euro zone finance ministers said on Monday they agreed with the European Commission that Italy’s 2019 draft budget broke EU budget rules and said they would like Rome to cooperate with the EU executive to prepare a revised draft in line with EU laws.

Ministers from the 19 countries sharing the euro said sound public finances were a prerequisite for durable and sustainable economic growth and a smooth functioning of the euro zone.

“We look forward for Italy and the Commission to engage in an open and constructive dialogue and for Italy to cooperate closely with the Commission in the preparation of a revised budgetary plan which is in line with the Stability and Growth Pact,” the ministers said in a statement after discussing the Italian budget.

Reporting By Jan Strupczewski

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