Italy will have to make ambitious debt cutting bid - IMF

(ANSA) - ROME, OCT 14 - Italy will have to make an ambitious debt cutting effort, the director of the International Monetary Fund's European department, Alfred Klammer, told a briefing on the European economy Friday.
    Italy, Klammer said, "is facing a complex situation" as regards economic policy.
    "In a situation of lower growth and rising interest rates, Italy will have to be very focused on its budget situation, on reducing the debt/GDP ratio in the tracks of the previous government, and the most recent developments will require a more ambitious budget effort".
    Rome must consolidate the budget, also via spending cuts, said Klammer. (ANSA).