European Commissioner Olli Rehn warned Italy about public debt, but then looked with confidence at Padoan's appointment as Economy Minister: "In Italy - Rehn said when presenting the Commission's winter economic forecasts - to be able to reduce the 'high public debt, as foreseen by the rules of the Stability and Growth Pact, as I have already said we should see somewhat higher structural adjustments”.
During the press conference Rehn was asked if he confirmed the request made to Italy in the past economic forecasts, last November, on more structural measures to reduce debt.
“There is no news on this,” he then replied, essentially confirming the request. But not giving new indications on future maneuvers to correct the accounts.
Then, the approval for Padoan: “Pier Carlo Padoan - said Rehn - is the author of numerous reports on increasing economic growth and on structural reforms, he knows what needs to be done to revive growth and I am confident that he will implement in Italy the same indications expressed when he was number two of the OECD".
