U.S. Markets

Italy PM says EU letter on budget will arrive, to also cover other states

Italy's Prime Minister Matteo Renzi talks to the media as he leaves a European Union leaders summit in Brussels, Belgium, October 21, 2016. REUTERS/Francois Lenoir

ROME (Reuters) - Italian Prime Minister Matteo Renzi said on Monday that a letter in which the European Commission might warn the euro zone’s third largest economy against breaking the bloc’s budget rules would arrive but would not only pertain to Italy.

“The letter will come and will cover a number of countries, not only Italy, because of some minor differences, but I don’t believe that it’s the most important thing because we have done things according to the rules,” Renzi told Tg5 television in an interview.

“I certainly will not let some European technocrat tell me that I cannot restructure schools because you cannot call stability into question,” he added.

Reporting by Francesca Piscioneri, writing by Agnieszka Flak