Italy’s Prime Minister Declines Changing 2019 Budget Plan

"When it comes to the Italians, we are not ready to refuse them anything," Conte told reporters at a forum in Rome.

He denied leading a rebellion against EU auditors who gave Italy three weeks in October to amend its budget proposal. The draft was rejected against this Wednesday.

"We have a common goal with Europe. We are working to reduce the debt," the defiant prime minister said, adding "the rebellion against the EU is a figment of the imagination."

Italy’s Not Prepared to Change Budget Before EP Elections in May - Consultant

20 November 2018, 10:45 GMT

The comment followed Wednesday's report by the European Commission announced that it rejected the Italian budget plan for 2019. Deputy Prime Minister Matteo Salvini confirmed that the government would not negotiate over its fiscal targets. Salvini added that any EU sanctions against Rome would be "disrespectful" towards the Italian people.

On the same day, EU Economic and Financial Commissioner Pierre Moscovici warned Italy that its behaviour warranted a debt-based excessive debt procedure, which could lead to fines.

Italy’s debt load has reached 131 percent of its domestic output. The European Commission told Rome to cut the deficit by 0.6 percent in 2019. Instead, it is set to grow by around 1 percent.