Public finance flexibility 'could save Italy 10bln euros'

(AGI) Milan, June 30 - Greater public finance flexibilityagreed by Brussels means Italy could save up to 10 billioneuros a year, Cabinet Undersecretary Graziano Delrio told thenewspaper Corriere della Sera. Flexibility "means that incalculating the deficit, part of the spending is not consideredor, better said, is considered in a flexible way", he said. Hewent on: "This in fact loosens the Stability Pact. The systemcould apply to project co-financing, i.e. the money that Italyis obliged to spend in order to use European funds." . .

(AGI) Milan, June 30 - Greater public finance flexibilityagreed by Brussels means Italy could save up to 10 billioneuros a year, Cabinet Undersecretary Graziano Delrio told thenewspaper Corriere della Sera. Flexibility "means that incalculating the deficit, part of the spending is not consideredor, better said, is considered in a flexible way", he said. Hewent on: "This in fact loosens the Stability Pact. The systemcould apply to project co-financing, i.e. the money that Italyis obliged to spend in order to use European funds." . .