18 Nov 2013
PM Letta confident Italy able to cut deficit next year
FXstreet.com (Barcelona) - Italian PM Enrico Letta, who took part in a conference organized by the Financial Times in Rome on Monday, expressed his confidence that Italy would be able to bring down its deficit in 2014, thanks to the privatization program, which will be announced later this week.
His declaration comes after last week's warning issued by the European Commission that Italy is at risk of breaching the EU debt and deficit rules.
Letta described the current youth unemployment levels in the country as a “nightmare” and emphasized that the reforms to be implemented next year will be crucial for repairing the Italian economy.
Furthermore, the Italian PM said that the“schism” in the center-right guaranteed greater stability for the government. During the weekend Silvio Berlusconi’s Freedom Party broke up, which means that the coalition government does not have to depend on Berlusconi's support to attain majority in the Senate.
His declaration comes after last week's warning issued by the European Commission that Italy is at risk of breaching the EU debt and deficit rules.
Letta described the current youth unemployment levels in the country as a “nightmare” and emphasized that the reforms to be implemented next year will be crucial for repairing the Italian economy.
Furthermore, the Italian PM said that the“schism” in the center-right guaranteed greater stability for the government. During the weekend Silvio Berlusconi’s Freedom Party broke up, which means that the coalition government does not have to depend on Berlusconi's support to attain majority in the Senate.