Bank of Italy Governor Fabio Panettasaid Saturday that the efforts to bring down Italy's huge public debt of around 2,850 billion euros must be spent up.
Italy must "accelerate the consolidation of its public accounts" through "prudent management of public finances" and "adequate levels of primary surplus," Panetta said during a speech at the Assiom Forex congress in Genoa.
He said it was necessary "to give investors certainty about the public debt being on downward trajectory".
The governor added that the European Central Bank was set to end its monetary squeeze.
"The time for a reversal in the ECB's monetary policy stance is approaching, because disinflation is at an advanced stage," he said.
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