European Economic Affairs Commissioner Pierre Moscovici said Friday that Italy's economic plight was a problem for the eurozone as a whole. "Italy is suffering a situation of stagnation, if not recession," Moscovici said on the fringes of the IMF's spring meetings. "The Italian situation is a source of uncertainty for the whole eurozone".
Italy slipped into recession in the second half of 2018 and its growth is expected to be sluggish or negative this year.
Moscovici said the Commission will make a decision next month on whether Rome is respecting its budget pledges.
"We'll make our decisions on Italy on the basis of our forecasts," he told Class CNBC and SkyTg24.
"Our decision will be made on May 7 and the figures will have to add up in accordance with our recommendations. "I ask Italy for credibility. Everyone must respect the rules and respect the commitments made. It's a question of credibility and sustainability".
ALL RIGHTS RESERVED © Copyright ANSA
