The European Commission "welcomes the intention to reduce the tax wedge through resources obtained from the spending review" announced yesterday by Italian Prime Minister Matteo Renzi. This was stated by Sinmon O'Connor, spokesman for the European Commissioner for Economic Affairs Olli Rehn, in the mid-day press conference in Brussels.
"However - continued O'Connor - we recall Italy's commitment to comply with the Stability and Growth Pact", which envisages achieving a balanced structural budget in the medium term, especially in consideration of "the high Italian public debt ”.
