No more suicidal austerity, says Renzi (2)

(ANSA) - Rome, November 16 - Premier Matteo Renzi on Wednesday blasted European Union-mandated austerity as a big mistake, saying public investment was needed. "We wasted too much time because some thought the the culture of austerity should win and so public investments in Italy were halved, with suicidal philosophical reasoning that led to a 20 billion euro reduction in funding," Renzi said during a visit to Caltanissetta. "We won't let Italy make the mistakes of the past when it was decided that public works should be cut. "Those who cut public works cut their own future, their opportunity to grow".
    Renzi added that Italy would keep flying the European Union flag but added that the bloc must do its part and promote growth and investment. "We are conducting a battle in Europe," Renzi said as he visited a work site for the Agrigento-Caltanissetta state highway in Sicily. "The flag of Europe is here with us and we keep it by our side, but Europe must do its job, which is to promote growth, not just austerity, and to invest in the future, not just in bureaucracy".