10/18/2018, 7:34 PM (Source: TeleTrader)
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Conte hopes downgrade can be avoided

Downgrade of Italy's rating could be avoided, Italian Prime Minister Giuseppe Conte stated on Thursday following European Commissioner for Economic and Financial Affairs Pierre Moscovici's visit to Rome. The prime minister added that the government was talking to rating agencies.

Earlier this month, Deputy Prime Minister Luigi Di Maio stated that a credit rating downgrade would mean there was "prejudice" against the government in Rome. During his meeting with Finance Minister Giovanni Tria earlier today, Moscovici highlighted that there was no discrimination against Italy.

Conte's remarks follow European Commission's concerns about Rome's budget draft, which the EU dubbed a "significant deviation" from the rules of the bloc.

Breaking the News / BM