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Italy's Salvini says EU fiscal rules must be changed, not broken

Published 05/24/2019, 03:45 AM
Updated 05/24/2019, 03:50 AM
© Reuters. Rally of European nationalist and far-right parties ahead of EU parliamentary elections in Milan

MILAN (Reuters) - Italy's Deputy Prime Minister Matteo Salvini said on Friday its right-wing League party wanted to change European Union fiscal rules to push through tax cuts because it would not want a deficit overshoot that lifted debt costs.

"The League's goal is to change EU rules to be able to lower taxes", Salvini told RTL 102.5 radio.

Salvini said he was ready to discuss the issue with French President Emmanuel Macron and German Chancellor Angela Merkel after an EU vote on Sunday from which he expects the League to come out as the strongest party in Italy and Europe.

Italian bond yields rose to their highest level since February last week after Salvini said Italy could break EU fiscal rules and increase its public debt in order to spur job creation.

© Reuters. Rally of European nationalist and far-right parties ahead of EU parliamentary elections in Milan

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