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5/30/2019, 8:32 AM (Source: TeleTrader)
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Reports: Italy to refuse EU demands; Tria may be fired

The cabinet of Prime Minister Giuseppe Conte isn't succumbing, for now, to pressure from the European Commission, which has said Italy "is confirmed not to have made sufficient progress" with regard to rules on public debt, according to the local media. Minister of Economy and Finance Giovanni Tria (pictured) will reply measures aimed at budget discipline aren't the appropriate solution, Il Messaggero reported on Thursday, without revealing sources.

The formal letter opening the way for sanctions was sent from Brussels yesterday and the government is due to write one back by tomorrow. The country probably overcame a shallow recession in the first quarter and investors are waiting for tomorrow's revised gross domestic figures. The political landscape changed after the European elections last week as Matteo Salvini's Northern League, junior partner in the coalition, prevailed with 34.3% of votes against 17.1% for the Five Star Movement (M5S).

The deputy prime minister yesterday said €30 billion would be "well spent" if the economy recovers. La Stampa learned the M5S is ready to fire Tria, a nonpartisan figure, and let Salvini's party replace him.

Breaking the News / IT