Monday, December 5, 2016

Italy can handle fallout from Renzi's resignation - Moscovici

Italy can handle the fallout from the resignation of Italian Prime Minister Matteo Renzi and the eurozone as a whole can manage all kinds of political shocks, European Commissioner for Economic and Financial Affairs Pierre Moscovici said.

"I am confident Italy has the means to address the situation," Mr Moscovici told reporters on entering a meeting of eurozone finance ministers.

Italy's draft 2017 budge twill be discussed among other topics.

Asked if the Italian political crisis could trigger a wider eurozone crisis, Mr Moscovici said: "I am confident there will be no such crisis. We have the means to resist any kind of political shock in Europe."

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