Italy's Tria says he sees no obstacles to EU budget agreement

Italy's economy minister said on Tuesday he was confident about the chances of reaching an agreement with the European Union over Rome's budget, and the new deficit targets will show a "more than prudent" fiscal policy. Brussels is threatening to open a disciplinary action against Italy for its growing debt.

"I do not see obstacles for an agreement with the EU," Giovanni Tria said according to a text of a speech he was due to give to a conference in Rome. "I am optimistic." The minister confirmed that the new deficit target for this year will be lowered to 2.1% from 2.4%.