European Economic Affairs Commissioner Pierre Moscovici said Friday a deal could be found on the Italian budget the EC has rejected since "the door is always open.
"Our door remains open and I am convinced that we will be able to find an accord on shared solutions in the interest of the Italians and the eurozone," he said.
"It is a challenging but practicable course and I want to believe in it.
"Our goal is not to sanction the Italian authorities, nor to interfere in the internal affairs of the country.
"It is in the interest of all to continue to dialogue and go forward in the search for common solutions".
A budget clash with the European European will keep the Italian-German bond spread high, Moody's Investors Services said Friday.
"The growing tensions with the European Union will keep the costs of financing (the public debt) high" and "will increase the risks for the economy," said Kathrin Muehlbronner, Senior Vice President of the US ratings agency.
The spread, a gauge of investor confidence in Italy servicing its debt, has risen above 300 points since the EC rejected Italy's 2019 budget.
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