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. Investing

    EUR/USD: August 2015 Forecast

  2. Forex News

    Heavy Event Risk in Jobs Data, Rate Decision Will Confront Summer Trading

  3. Forex News

    US Dollar as ‘Data Dependent’ as the Fed as NFPs Approach

  4. Forex News

    Strategy Video: Am I Over or Under Trading, And How Do I Correct It?

  5. Forex News

    Nonfarm Payrolls coming up: expectations -TDS

Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!