France warns of Italy’s failure to meet financial obligations

PARIS, France warned on Sunday that failure of the new Italian government to meet its financial obligations would threaten stability in the euro area.

? ? ? If the new government fails to honor its commitments on debt, deficit and banks reform, the financial stability of the euro zone will be threatened, French Finance Minister Bruno Le Maire told French CNEWS.

He added that the future of Italy is in Europe and not elsewhere, and if the future is in Europe, there are rules that must be respected, stressing the importance of keeping these commitments in the long term to ensure common stability.

? ? ? Brussels is keen that Italy continue efforts to reduce its large debt in line with European rules, but is concerned about the new government’s drive to increase public spending.

Source: Kuwait News Agency