The Italian government has changed its tone regarding its spending plans for 2019, but that might not be enough for officials in Brussels.
Italian Prime Minister Giuseppe Conte told Italian media that he would be making new budget proposals to the European Union on Tuesday, to ensure that Rome avoids harsh actions that could create further unrest in financial markets. Other government officials had made similar remarks since Friday, suggesting a new willingness to lower the 2019 deficit target.
The European Commission — the EU's executive arm — has welcomed this change in rhetoric, but has also said that Rome needs to go further.
"We are waiting for more details to evaluate the size of these steps," Pierre Moscovici, the European commissioner for economic and financial affairs, taxation and customs, told a press conference Tuesday.
"We need commitments which have to be very concrete, which have to be credible," the former French finance minister said.