On Air Now

Listen

Listen Live Now » 101.9 FM Sioux Falls, SD

Weather

Current Conditions(Sioux Falls,SD 57104)

More Weather »
54° Feels Like: 54°
Wind: NNE 17 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Today

Partly Cloudy/Wind 68°

Tonight

Clear 35°

Tomorrow

Mostly Sunny 67°

Alerts

EU's Rehn says supports Italian trade debt liquidation

European Economic and Monetary Affairs Commissioner Olli Rehn holds a news conference after a Eurogroup meeting in Brussels March 16, 2013.
European Economic and Monetary Affairs Commissioner Olli Rehn holds a news conference after a Eurogroup meeting in Brussels March 16, 2013.

BRUSSELS (Reuters) - The European Commission supports Italy's plan to accelerate the liquidation of trade debt accumulated by its public administration, it said in a statement on Tuesday.

"Given Italy's considerably improved budgetary situation, there is scope for a phased liquidation without endangering the sustainable correction of the excessive budget deficit," said top EU economic official Olli Rehn.

The Commission said it trusted Italy would prevent the accumulation of new trade debts at all levels of government in the future.

(Reporting By Ethan Bilby; editing by Ben Deighton)

Comments