Italian prime minister Giuseppe Conte told CNBC he was optimistic about the possibility that the European Commission would not pursue an excessive deficit procedure (EDP) – against his government for the continued high levels of Italian sovereign debt.
Italy wrote a letter to the EU’s executive branch earlier this week insisting that Rome would respect and abide by current fiscal rules that form part of a treaty agreement known as the growth and stability pact.
But the Italian premier said the missive contained a pledge to try and alter that framework to help support an Italian economy that has long lagged behind most of its European peers.
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