Italy set to request EU ‘freedom of movement’ in budget in view of Coronavirus

epa07804119 M5S (Five-Star Movement) member Laura Castelli arrives at the Lower House in Rome, Italy, 30 August 2019 Premier-designate Giuseppe Conte is carrying out government-formation consultations with Italy's political parties. Italian President Mattarella on 29 August handed outgoing Premier Giuseppe Conte a mandate to form a government. EPA-EFE/FABIO FRUSTACI

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Italy’s deputy economy minister said Tuesday that the EU ought to leave Italy some wiggle room on its budget targets if the bloc’s third-largest economy succumbs to the coronavirus outbreak rippling across Italy’s industrial north.

“There are resources that the EU can give us in relation to economic events that could lower GDP considerably,” Deputy Economy Minister Laura Castelli said in an interview with RAI radio, adding “We hope we won’t need it.”

Italy’s GDP shrank by 0.3 percent in the fourth quarter of 2019. Its tourism industry, which accounts for 13 percent of the overall economy, is expected to suffer as COVID-19 takes hold

Via Politico

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