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Italy backs EU proposal to coordinate member budgets
Date 06/09/2010 15:02  Author webmaster  Hits 1027  Language Global
06 SEP 2010

Economic Times

CERNOBBIO: Italy backs a proposal for the EU to coordinate euro zone members' budgets, Italy's Economy Minister Giulio Tremonti said on Sunday, calling it the most important proposed change for the EU Stability Pact.

The European Union is trying to toughen up rules under the Stability Pact governing public finances, with proposals from EU President Herman Van Rompouy.

Tremonti said of the proposals, which also include fiscal supervision and new sanctions, coordinating national budgets at the EU level was key.

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