Italy must come up with an additional package of measures to get its economy back on track, Dutch finance minister Jan Kees de Jager is quoted as saying ahead of a crucial EU summit.
‘I expect Italy to announce extra measures this weekend,’ De Jager is quoted as saying by the Financieele Dagblad. ‘They have to get going quickly when it comes to economic reform and spending cuts.’
Eurozone finance ministers are meeting on Friday evening and Saturday to discuss how to boost the emergency fund and a new support package for Greece.
De Jager stressed to the paper that the approach to solving the euro crisis must be ‘all-encompassing’.
‘The situation is serious and I have been saying that since May 2010,’ he said. ‘That is why the Netherlands is finding increasing support… for its focus on much tougher monitoring and short-term reforms and cuts. Putting money in the emergency fund is only counteracting the symptoms.’
The Netherlands has called for the introduction of a special eurozone commissioner to monitor compliance with monetary union budget rules.
De Jager declined to comment on the dispute between France and Germany about how to expand the emergency fund. ‘It will be difficult discussions. But of course, we are with Germany on many points,’ the FD quoted him as saying.
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