No reasons to modify Italy's 2019 budget structure: Aberto Bagnai

Italian bonds rallied on Monday after reports that Italy's ruling coalition was bowing to pressure from the European Union and may reduce next year's budget deficit target.

There is no reason to change the structure of Italy's 2019 budget law, the head of the Italian senate's finance committee said on Tuesday.

Italian bonds rallied on Monday after reports that Italy's ruling coalition was bowing to pressure from the European Union and may reduce next year's budget deficit target.

"Our country, regardless of what it wants to do, is headed by a government that has political views which are different from those of the (European) Commission and the Commission is trying to fight it," Eurosceptic economist Aberto Bagnai told state radio.

"This attitude is derailing the whole European project. There are neither political nor economic reasons to modify the structure of the budget."