EU Commission defends Italy and questions Moody's

The European Commission hailed Italy’s deficit-cutting and economic-overhaul efforts and questioned the timing of the downgrade of the country’s credit rating by Moody’s Investors Service.

13th July, 2012
EU Commission defends Italy and questions Moody's
The EU Commission headquarters in Brussels.

The European Commission hailed Italy’s deficit-cutting and economic-overhaul efforts and questioned the timing of the downgrade of the country’s credit rating by Moody’s Investors Service.

* **A report with full details of Italy's downgrading is here.**

“Italy’s policy action to ensure sound public finances and address longstanding structural weaknesses has been both determined and wide ranging,” Bloomberg reported commission spokesman Simon O’Connor as saying today in Brussels....

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