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Italy won't have leeway on investment spending in 2014-EU source
February 14, 2014 / 12:26 PM / 4 years ago

Italy won't have leeway on investment spending in 2014-EU source

BRUSSELS, Feb 14 (Reuters) - Italy will not be allowed to make use this year of a so-called “investment clause” which allows some flexibility on public spending because it failed to present a document requested by the European Commission, an EU source said on Friday.

A deadline for Italy to present a detailed spending review in order to be allowed some leeway on investment spending expires at the end of this week. Rome had already been granted an extension.

“There are no longer margins for the European Commission to allow Italy to make use of the investment clause in 2014,” the source said.

Italy’s Economy Ministry had no comment. (Reporting by Francesco Guarascio, writing by Valentina Za; editing by Agnieszka Flak)

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