German Economy Min says no alternative to Italy reforms
BERLIN (Reuters) - German Economy Minister Philipp Roesler said on Tuesday he could have imagined a better outcome for pro-reform parties in Italian elections and added that the euro zone's third largest economy needed to continue to implement reforms.
"There is no alternative to the structural reforms that are already underway and which include consolidating the budget and boosting competitiveness," Roesler said in a statement, adding that all parties in the country needed to help stabilize the heavily indebted state.
Italy faces political deadlock after a stunning election that saw the anti-establishment 5-Star Movement of comic Beppe Grillo become the strongest party in the country but left no group with a clear majority in parliament.
(Reporting by Michelle Martin, editing by Gareth Jones)