Italian PM assures no disagreement with Germany on direction of EU fiscal policy

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Łódź) - European Commission President José Manuel Barroso visited Rome on Friday to meet with Italian PM Matteo Renzi and speak about the goals of Italy's six month presidency of the European Union, which has started on July 1.



One of the questions raised was the possible disagreement with Germany over the direction of EU fiscal policy under the Italian lead, following Bundesbank chief Jens Weidmann's comments yesterday that Rome shouldn't call for increased budget flexibility in the EU until it implements all the necessary structural reforms.



"If you are referring to the comments of some German banker, the Bundesbank's job is to ensure respect of its statutes, not to participate in Italy's political debate." Renzi said at the press conference following the meeting.



"Europe belongs to its citizens, not to bankers, either Italian ones or German ones," he added.
German Chancellor Angela Merkel's spokesman Steffen Seibert also confirmed there was no disagreement with Italy on EU deficit rules, while Barrosos that nobody asked for changing them at the last summit.



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    Euro Relief Rally May Hit Wall as Market Refocuses on EZ CPI, US NFPs

  2. Forex News

    Forex Sentiment & Volume Analysis - EURUSD

  3. Forex News

    Forecast: Dollar Faces NFPs, Euro Anticipating Greece and Risk Languishes

  4. Forex News

    Fed Fear Builds USD, Greece Unnerves the Euro but S&P Yet to Collapse

  5. Forex News

    A glance at the strong dollar and implications - BBH

Trading Center