Italian Economy Minister Tommaso Padoa-Schioppa said on Wednesday he shared EU concerns over Italy's high debt and need for pension reform, and vowed to push ahead with deficit-cutting measures.
"(EU economics chief Joaquin) Almunia's concerns are to be shared when he expresses concern about the state of our debt and on the pension issue," the Italian minister told La Repubblica television.
The European commissioner, the International Monetary Fund and ratings agencies are worried that Italy's decision to scale back plans to cut its budget deficit, plus delays in reforms to state pensions, will hinder progress in reducing public debt.
Padoa-Schioppa said although a decision to raise social spending in the mid-term economic plan or "DPEF" released last week would mean slower progress towards a balanced budget, it did not mean Italy's efforts to reduce its overspend had ceased.
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