MILAN Italian Financial state Minister Pier Carlo Padoan denied a report in La Stampa newspaper on Sunday which mentioned he threatened to resign if productive reforms and planned privatizations are not carried out.
In a statement, the Treasury mentioned the short article positioning uncertainties over Padoan continuing his tenure was “entirely unfounded” and dismissed the estimates attributed to the minister as fictional.
“The minister phone calls the rumors of his resignation ‘absurd’ and as an alternative confirms his willpower to press ahead in coming months with the reform endeavours and the moves to rebalance the price range and to assistance expansion released by the Italian government in 2014,” the ministry mentioned.
Given that previous Prime Minister Matteo Renzi stepped down previous yr soon after losing a referendum on constitutional adjustments, the ruling party has been plagued by interior conflict and prospective clients for economic reforms have dwindled. There is also growing sentiment across the political spectrum versus Brussels.
The European Fee experienced requested Italy in January to cut its price range deficit this yr by some three.four billion euros ($three.6 billion) more than Rome experienced qualified in its 2017 price range.
Italy mentioned it would boost revenues and cut expending to meet up with Brussels’ fears and the fiscal correction would be contained in a multi-yr price range plan, regarded as the Economic and Financial Document, to be presented in April.
(Reporting by Agnieszka Flak and Giuseppe Fonte Editing by Dominic Evans)