"I trust Italian authorities. I am sure that they are well equipped to face the situation," Moscovici said upon his arrival for the Eurogroup meeting.
Moscovici praised Renzi's government for its economic, social and political reforms.
The commissioner added that despite the results of the Italian referendum, the Sunday's Austrian presidential election, where Green-backed independent candidate Alexander Van der Bellen triumphed over far-right Norbert Hofer, showed that populist parties skeptical of the European Union were not "invincible."
The referendum on the constitutional reform proposed by Renzi in 2014 took place on Sunday. The proposal, which implied limiting Senate powers to speed up lawmaking process, was rejected by 59.11 percent of the voters.
