EU needs Italy's commitments over 2020 to avert debt procedure - source

The European Commission needs clarifications from Italy over its fiscal plans for next year before it can decide whether to halt a disciplinary procedure over the country's rising debt, an EU official told Reuters on Tuesday. Italy's government made concessions over its deficit for this year but has not explained how it intends to counter a forecast rise in its deficit and debt next year.

"We need political commitment," for 2020, the EU official said. At a meeting on Wednesday, the EU executive is expected to decide whether to recommend the formal opening of disciplinary action against Italy or halt the procedure.

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