Italy's Tremonti pushes for balanced budget rule

ROME, July 14 Thu Jul 14, 2011 7:29am EDT

ROME, July 14 (Reuters) - Italian Economy Minister Giulio Tremonti pledged on Thursday to insert a constitutional amendment to ensure that state budgets are kept in balance unless borrowing is required for investment spending.

Speaking in the Senate before a vote to approve an austerity package aimed at bringing the budget into balance by 2014, Tremonti said Italy needed to go further to control borrowing and bring down its huge debt burden.

"Our work is not done today. We must, together with the opposition, introduce into our Constitution the golden rule on balanced budgets," he said. (Writing by James Mackenzie)

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