Austria's Kurz says Italy debt could threaten eurozone
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Without tougher European Union rules for excessive debt, Italy could put the entire eurozone at risk, Austrian Chancellor Sebastian Kurz told Italy's La Stampa newspaper on Monday. Sanctions for debt-laden EU members «will prevent Italy, for example, enAustria's Kurz says Italy debt could threaten eurozone
Without tougher European Union rules for excessive debt, Italy could put the entire eurozone at risk, Austrian Chancellor Sebastian Kurz told Italy's La Stampa newspaper on Monday. Sanctions for debt-laden EU members «will prevent Italy, for example, ending up a second Greece thanks to irresponsible debt policies,» the centre-right leader said. This is the only way «we can avoid Italy putting the entire eurozone at risk,» Kurz said, targeting Italy's big-spending populist coalition government. Italy's public debt is currently around €2.3 trillion or 132 per cent of Italy's GDP - way above the 60 per cent EU ceiling. The ruling coalition of the anti-establishment Five Star Movement (M5S) and anti-immigrant League party has also increased the budget deficit since coming to power last June as it implements big-spending election promises, including tax cuts and generous income support. League leader Matteo Salvini has expressed interest in joining the conservative European People's Party (EPP) bloc in the European parliament, of which Kurz's centre-right People's Party (OeVP) is also a member. Kurz on Friday expressed scepticism over any cooperation between the EPP and parties... Read more














