EC OK to Italy's accounts, budget plan is credible

(ANSA) - ROME, NOV 26 - The European Commission on Tuesday gave the thumbs up to Italy's budget plan saying it was credible.
    The EC said it believes that Italy's medium-term structural budget plan (SBP) "satisfies the requirements" of the new Stability Pact.
    "It defines a credible fiscal path" to ensure that public debt is placed on a credible downward path, said the commission.
    The measures in the plan, for the community executive "satisfy the requirements to justify an extension" to seven years.
    For Brussels, Italy's Draft Budgetary Plan (DBP) is "in line with the recommendations" thanks to a net expenditure projected within the expected limits.
    photo: Economy Minister Giancarlo Giorgetti (ANSA).