India Markets closed

EU still waiting for new Italian budget plans, says Oettinger

BERLIN (Reuters) - European Commissioner Guenther Oettinger urged Italy on Wednesday to quickly submit a new budget with a lower deficit goal than previous plans which he described as being dangerous for Italy and the euro zone.

"We hope that a draft will come today that corresponds to the criteria for all euro countries," Oettinger, responsible for EU budget affairs, told German radio.

He added that even a deficit goal of 2.2 percent of gross domestic product, compared with the current goal of 2.4 percent for next year, "would be against all the commitments".

(Reporting by Gernot Heller; Writing by Madeline Chambers; Editing by Thomas Seythal)