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AI (Artificial Intelligence) letters are placed on computer motherboard in this illustration taken, June 23, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsMILAN, Nov 22 (Reuters) - Italy's data protection authority has kicked-off a fact-finding investigation into the practice of gathering large amounts of personal data online for use in training artificial intelligence (AI) algorithms, the regulator said on Wednesday. The watchdog is one of the most proactive of the 31 national data protection authorities in assessing AI platform compliance with Europe's data privacy regime known as the General Data Protection Regulation (GDPR). Earlier this year, it briefly banned popular chatbot ChatGPT from operating in Italy over a suspected breach of privacy rules. "Following the fact-finding investigation, the Authority reserves the right to take the necessary steps, also in an urgent matter", the regulator said.
Persons: Dado Ruvic, Elvira Pollina, Mark Potter Organizations: REUTERS, General Data Protection, Authority, Reuters, Thomson Locations: Italy, France, Germany
Eleonora Berlusconi, Barbara Berlusconi and Luigi Berlusconi react on the day of the state funeral of former Italian Prime Minister Silvio Berlusconi outside the Duomo Cathedral, in Milan, Italy June 14, 2023. The other new entry is lawyer Michele Carpinelli, an M&A expert and a long-time family adviser, the source added. In his will, Berlusconi, who died aged 86 in June, handed his eldest children, Marina and Pier Silvio, joint control of Fininvest through a combined, indirect 52% stake. Marina and Pier Silvio have been directly involved in running the family business for almost two decades. Pier Silvio, Barbara and Luigi have long been board members.
Persons: Eleonora Berlusconi, Barbara Berlusconi, Luigi Berlusconi, Silvio Berlusconi, Claudia Greco, Berlusconi, Michele Carpinelli, Silvio, Barbara, Eleonora, Luigi, Marina Berlusconi, Berlusconi's, Mediolanum, Elvira Pollina, Keith Weir, Valentina Za Organizations: Italian, Duomo Cathedral, REUTERS, Repubblica, Marina, Mondadori, Thomson Locations: Duomo, Milan, Italy
ROME, Nov 21 (Reuters) - Italy is considering candidates to take the helm of state lender Cassa Depositi e Prestiti (CDP), three sources close to the matter told Reuters, as part of a wider shake-up of state-controlled companies. State-backed investor CDP, founded 173 years ago, plays a key role in keeping strategic assets in national hands. Asked to comment on a change of CEO at CDP, Meloni's office said any rumours of a replacement for Scannapieco were unfounded. Rome is expected to decide on the top management of CDP in March at the latest, immediately after the approval of this year's CDP financial accounts, the sources said. The state lender invests savings made by Italians through the national post office network Poste Italiane.
Persons: Dario Scannapieco, Fincantieri, Giorgia, Scannapieco, Antonino Turicchi, Stefano Donnarumma, Mario Draghi, Elvira Pollina, Susan Fenton Organizations: Eni, ITA Airways, European Investment Bank, Telecom Italia's, Thomson Locations: Italy, State, Rome, EU, Milan
The Tim logo is seen at its headquarters in Rome, Italy November 22, 2021. REUTERS/Yara Nardi/File Photo Acquire Licensing RightsROME, Nov 14 (Reuters) - Telecom Italia's (TIM) (TLIT.MI) planned sale of its fixed-line network to U.S. fund KKR (KKR.N) boosts the prospects of creating a national grid operator under state control, Italy's industry minister said on Tuesday. "Prospectively, I think this [the deal] will enhance the creation of a national grid operator under public control, in full respect of the EU competition law," Minister Adolfo Urso said during an event in Rome. The 19-billion-euro deal ($20.4 billion) is backed by the administration of Prime Minister Giorgia Meloni, which authorised the Treasury to spend up to 2.2 billion euros to take a 20% stake in the network. ($1 = 0.9330 euros)Reporting by Elvira Pollina, editing Federico MaccioniOur Standards: The Thomson Reuters Trust Principles.
Persons: Yara, Adolfo Urso, Giorgia Meloni, Elvira Pollina, Federico Maccioni Organizations: REUTERS, Rights, Telecom, KKR, Treasury, Thomson Locations: Rome, Italy
Telecom Italia (TIM) logo is seen displayed in this illustration taken, May 3, 2022. CEO Pietro Labriola's comments follow criticism from top shareholder Vivendi (VIV.PA), which has threatened a legal challenge to the plan to sell the grid, saying it considered the decision to proceed without a shareholder vote as "unlawful". "It is not possible under the Italian law to transfer such competence to the shareholders," the CEO added. According to Vivendi, the sale required an extraordinary shareholder vote because it would change TIM's corporate purpose and therefore required a change to the company bylaws. Labriola said the deal is "no more than the strict execution of the delayering (business) plan" unanimously approved in 2022.
Persons: Dado Ruvic, Pietro Labriola's, Labriola, Agostino Nuzzolo, Elvira Pollina, Giulia Segreti, Jan Harvey Organizations: Telecom Italia, REUTERS, Rights, Telecom, KKR, Vivendi, TIM, Thomson Locations: Milan
That is ahead of a 1.37 billion euro company-provided analyst consensus. Total domestic sales rose 2.2% in the quarter to 2.98 billion euros, also above forecasts. The company confirmed its 2023 financial targets, including a stabilisation of core earnings and service revenue in Italy. In the nine months, service revenue at TIM's domestic operations fell 1.3% to 7.9 billion euros. TIM's net financial debt stood at 26.3 billion euros as of Sept. 30, marginally up from the end of the previous quarter.
Persons: Stefano Rellandini, Giorgia, Pietro Labriola, Elvira Pollina, Valentina Za Organizations: Telecom Italia, REUTERS, Vivendi, Italy's, KKR, TIM, Thomson Locations: Rozzano, Milan, Italy, TIM's
Telecom Italia (TIM) logo is seen displayed in this illustration taken, May 3, 2022. The price tag can reach 22 billion euros when including some future payments were a long-awaited combination of TIM's grid with that of state-backed fibre optic rival Open Fiber materialise, the first two sources said. Italian infrastructure fund F2i is also preparing to take a stake in the grid to bring the holding in Italian hands to 30%-35%. With its 24% TIM stake, Vivendi has warned TIM's board it is ready to bring a legal challenge to the sale after criticising its approval process, documents seen by Reuters showed. ($1 = 0.9321 euros)Reporting by Elvira Pollina; Editing by Valentina ZaOur Standards: The Thomson Reuters Trust Principles.
Persons: Dado Ruvic, Giorgia, Pietro Labriola's, Merlyn Advisors, Stefano Siragusa, Elvira Pollina, Valentina Za Organizations: Telecom Italia, REUTERS, Vivendi, Sunday, KKR, Reuters, TIM, Treasury, Thomson Locations: MILAN, London
Telecom Italia (TIM) logo is seen displayed in this illustration taken, May 3, 2022. The board started a review of KKR's offer on Friday, approving it on Sunday, TIM said. The sale's 18.8 billion euro price tag, including debt, could reach 22 billion euros if certain conditions are met, TIM said. TIM said it would not put the board's decision to a shareholder vote, in a setback for leading shareholder VivendI (VIV.PA). Vivendi, which owns 24% of TIM, has been seeking a higher price and questioned the sustainability of the business left behind.
Persons: Dado Ruvic, Giorgia, Pietro Labriola's, Labriola, Merlyn Advisors, Merlyn, Elvira Pollina, Valentina Za, Will Dunham Organizations: Telecom Italia, REUTERS, TIM, Vivendi, Sunday, KKR, European Union, Treasury, VivendI, Thomson Locations: Italy, MILAN, London
Forza Italia leader and former Prime Minister Silvio Berlusconi arrives for a meeting with Italian President Sergio Mattarella at the Quirinale Palace in Rome, Italy October 21, 2022. REUTERS/Guglielmo Mangiapane/File Photo Acquire Licensing RightsMILAN, Nov 3 (Reuters) - Silvio Berlusconi's family has halted the 2,500 euro ($2,670) monthly payments that the late former prime minister had guaranteed to each of 20 female guests at his so-called Bunga Bunga parties, two legal sources said on Friday. Berlusconi died in June at the age of 86. Berlusconi's family declined to comment. Reporting by Emilio Parodi, additional reporting by Elvira Pollina, editing by Nick MacfieOur Standards: The Thomson Reuters Trust Principles.
Persons: Silvio Berlusconi, Sergio Mattarella, Guglielmo Mangiapane, Silvio Berlusconi's, Berlusconi, Berlusconi's, Emilio Parodi, Elvira Pollina, Nick Macfie Organizations: Forza Italia, REUTERS, Thomson Locations: Rome, Italy
MFE retains domestic TV rights of Italian soccer cup
  + stars: | 2023-10-30 | by ( ) www.reuters.com   time to read: +1 min
MILAN, Oct 30 (Reuters) - Italy's top soccer league Serie A said on Monday it had awarded commercial broadcaster MFE-MediaForEurope <MFEB.MI> the domestic TV rights for the next three seasons of the Italian Cup competition. The deal also includes the right to screen the Italian Super Cup which has been revamped earlier this year as a four-team competition rather than being a match between the winners of Serie A and the Italian Cup. That brings the total value of the deal, which covers the three seasons until 2026-27, to around 168 million euros. The company, which is controlled by the family of late media tycoon Silvio Berlusconi, is the current holder of the Italian Cup and Super Cup domestic TV rights, under a three-year contract expiring in June and worth some 145 million euros. ($1 = 0.9415 euros)Reporting by Elvira Pollina, editing by Gavin Jones and Federico Maccioni and Christian RadnedgeOur Standards: The Thomson Reuters Trust Principles.
Persons: Silvio Berlusconi, Elvira Pollina, Gavin Jones, Federico Maccioni Organizations: MILAN, Serie, Reuters, Italian, Super, Sky Italia, Thomson Locations: Italy
Newcastle's Tonali banned for 10 months for betting offences
  + stars: | 2023-10-26 | by ( ) www.reuters.com   time to read: +2 min
ROME, Oct 26 (Reuters) - Newcastle United midfielder Sandro Tonali has been banned from soccer for 10 months over breaches of rules on betting on matches in Italy, the head of the Italian Football Federation (FIGC) said on Thursday. It will rule Tonali out for the remainder of the club season and next summer's Euro 2024 tournament should Italy qualify. Tonali, 23, is the highest profile player caught up in a betting scandal that is shaking Italian soccer. Legal and sporting authorities have been investigating the use of illegal betting platforms by soccer players in Italy. Aston Villa's Italy midfielder Nicolo Zaniolo is also assisting authorities in their investigation into alleged illegal betting activity, the Premier League club said last week.
Persons: Sandro Tonali, Tonali, Gabriele Gravina, Nicolo Fagioli, FIGC's Gravina, Nicolo Zaniolo, Elvira Pollina, Keith Weir, Alvise Armellini Organizations: Newcastle United, Italian Football Federation, Newcastle, Milan, AC Milan, Champions League, Borussia Dortmund, Juventus, Aston, Premier League, Thomson Locations: Italy, Italian, Newcastle, Turin
After two years of negotiations, the bill was approved by the European parliament in May. At Tuesday's meeting which lasted until midnight, lawmakers agreed on most parts of Article 6 of the draft AI Act, one of the stumbling blocks in talks, the sources said, declining to give further details on what was agreed. Article 6 outlines the types of AI systems that will be designated "high risk", and therefore subject to greater regulatory scrutiny, the sources said. Ahead of Tuesday's meeting, Reuters reported citing sources that European lawmakers were yet to agree on several issues leaving any deal off the table until December. Failure to reach a deal could push negotiations to early next year, increasing the risk that discussions are further derailed by European parliament elections in June.
Persons: Dragos Tudorache, Brando Benifei, Benifei, Supantha Mukherjee, Martin Coulter, Elvira Pollina, Josephine Mason, Kirsten Donovan Organizations: Union, Reuters, EU, Thomson Locations: STOCKHOLM, LONDON, MILAN, Stockholm, London, Milan
ROME, Oct 24 (Reuters) - Italy broadly supports proposals at European Union level to ensure that Big Tech firms partly finance telecoms infrastructure in the bloc, Industry Minister Adolfo Urso said in a statement on Tuesday. "All market players benefiting from the digital transformation must contribute fairly and proportionately to infrastructure costs," Urso said, intervening at an EU telecoms minister meeting in Leon, Spain. However, before introducing any legislation, the EU must carefully assess whether and to what extent network infrastructure is effectively overloaded by content and services generated by Big Tech firms, Urso added. Deutsche Telekom (DTEGn.DE), Orange (ORAN.PA), Telefonica (TEF.MC) and Telecom Italia (TIM) (TLIT.MI) term it fair-share funding, while Big Tech says it amounts to an internet tax. "Italy believes the EU Commission should carry out further assessment and more time is needed to evaluate the extent of the impact of traffic generated on the network infrastructure" Urso said.
Persons: Adolfo Urso, Urso, Thierry Breton, Giuseppe Fonte, Elvira Pollina, Keith Weir Organizations: European Union, Big Tech, Industry, Google, Facebook, Netflix, Microsoft, Deutsche Telekom, Telefonica, Telecom Italia, France Telecom, Reuters, Thomson Locations: Italy, Leon, Spain, Orange
Forza Italia leader and former Prime Minister Silvio Berlusconi arrives for a meeting with Italian President Sergio Mattarella at the Quirinale Palace in Rome, Italy October 21, 2022. Vittorio Sgarbi, an art critic and former lawmaker with Berlusconi's Forza Italia party, told state TV RAI this week that the former prime minister spent around 20 million euros to create the collection. Sgarbi told the paper the collection was "monstrously entertaining", but of little value, with only "six of seven" deemed interesting. The family spokesperson said the collection had sentimental value and denied reports it was being dismantled. Forbes estimated that Berlusconi and his family had assets worth around $6.8 billion, of which around two thirds were held by holding company Fininvest.
Persons: Silvio Berlusconi, Sergio Mattarella, Guglielmo Mangiapane, Vittorio Sgarbi, Berlusconi, Sgarbi, RAI's, Elvira Pollina, Angelo Amante, Alvise Armellini, Deborah Kyvrikosaios Organizations: Forza Italia, REUTERS, La Repubblica, Berlusconi's Forza Italia, RAI, Forbes, Thomson Locations: Rome, Italy, Arcore, La Repubblica
MILAN, Oct 11 (Reuters) - Italy's top flight soccer league Serie A is pressing ahead with plans to launch its own media operations with the support of financial investors as a sale process of domestic broadcasting licences struggles to gain traction, club and league officials said. The creation of a media platform to distribute Serie A matches to other TV outlets as well as the launch of a league-run live video streaming subscription service have been repeatedly floated in recent years. The launch of a TV streaming service platform to broadcast matches would a first for any major soccer league in Europe. The 20 clubs may also decide to use the league's streaming platform to screen only some of the matches, awarding part of the rights to the established broadcasters. TV rights are a key source of revenue for Serie A clubs such as this year's champions Napoli, Juventus (JUVE.MI) and Milanese clubs AC Milan and Inter.
Persons: Elvira Pollina, Keith Weir Organizations: MILAN, Serie, Sky Italia, Napoli, Juventus, Milanese, AC Milan, Inter, English Premier League, Premier League, Thomson Locations: Europe
ROME, Oct 11 (Reuters) - Juventus midfielder Nicolo Fagioli is under investigation for alleged illegal betting activities, an Italian prosecutor said on Wednesday, confirming earlier press reports. "I confirm the news of the investigation," Turin Chief Prosecutor Enrica Gabetta said in an emailed statement, without elaborating. "Nicolo is calm and fully focused on Juventus and the (Italian Serie A) league," they added. Italian soccer authorities ban players from betting on soccer matches but not from other types of gambling. A player found to have bet on soccer matches risks being banned for at least three years and fined at least 25,000 euros ($26,520) under the FIGC's code of conduct.
Persons: Nicolo Fagioli, Enrica Gabetta, Luca Ferrari, Armando Simbari, Nicolo, Fagioli, Angelo Amante, Alvise Armellini, Elvira Pollina, Gavin Jones, Ed Osmond Organizations: Juventus, La Stampa, A, Italian national, Albania, Thomson Locations: Turin, Italian
Soccer AC Milan take first step in new arena project
  + stars: | 2023-09-27 | by ( ) www.reuters.com   time to read: +1 min
The AC Milan logo is pictured on a pennant in a soccer store in downtown Milan, Italy April 29, 2015. REUTERS/Stefano Rellandini/File Photo Acquire Licensing RightsMILAN, Sept 27 (Reuters) - AC Milan are starting a process to build a new stadium on the outskirts of Milan, the Italian soccer club said on Wednesday, after efforts to replace their historic San Siro arena led nowhere. "It's a first step," AC Milan chairman Paolo Scaroni said at a press briefing presenting the project. Like other Italian clubs, AC Milan, who are controlled by U.S. fund RedBird, do not own an arena, which is seen as a key driver to boost revenue. The club and local rival Inter Milan have been in talks for years with the city of Milan to advance a joint project to rebuild San Siro, which was built in the 1920s and is currently the home ground of both teams.
Persons: Stefano Rellandini, Milan, Paolo Scaroni, Elvira Pollina, Valentina Za, Ed Osmond Organizations: REUTERS, Milan, AC Milan, U.S, Inter Milan, Thomson Locations: Milan, Italy, Italian, San Siro, San Donato
Explainer: What's at stake in Telecom Italia grid deal?
  + stars: | 2023-09-25 | by ( ) www.reuters.com   time to read: +3 min
TIM is selling NetCo, a venture comprising both TIM's domestic fixed-access network and international wholesale telecoms operator Sparkle. TIM's landline network covers nearly 89% of the country's households and its fibre cable stretches over 23 million kilometres across the country. Beyond TIM's grid, a second major network is being rolled out by Open Fiber, a company controlled by CDP and Australian investment group Macquarie. There had long been talks of trying to combine TIM's network with Open Fiber but competition concerns have hampered such a deal so far. With its 24% voting stake, Vivendi could throw a spanner in the works at any TIM shareholder meeting to vote on a deal or challenge it in the courts.
Persons: Yara, Pietro Labriola's, Giorgia, Elvira Pollina, Keith Weir, Anil D'Silva Organizations: REUTERS, KKR, Italian Treasury, Telecom Italia's, TIM, WHO, Vivendi, Treasury, Trade, Macquarie, Thomson Locations: Rome, Italy
KKR asks Telecom Italia to extend deadline for grid bid
  + stars: | 2023-09-22 | by ( ) www.reuters.com   time to read: +1 min
The Tim logo is seen at its headquarters in Rome, Italy November 22, 2021. REUTERS/Yara Nardi Acquire Licensing RightsMILAN, Sept 22 (Reuters) - U.S. fund KKR (KKR.N) has asked Telecom Italia (TIM) to push back a Sept. 30 deadline to submit a multi-billion euro binding offer for the phone group's landline network until Oct.15, TIM said on Friday. TIM's board will review the request at a meeting on Sept. 27, the company said in a statement. The U.S. fund's preliminary bid valued the business -- dubbed NetCo -- at around 23 billion euros ($24.5 billion)including debt and taking into account a number of variables. ($1 = 0.9404 euros)Reporting by Elvira Pollina, editing by Alvise ArmelliniOur Standards: The Thomson Reuters Trust Principles.
Persons: Yara, TIM's, Giorgia, Elvira Pollina, Alvise Organizations: REUTERS, KKR, Telecom Italia, TIM, Treasury, Thomson Locations: Rome, Italy, U.S
REUTERS/Yara Nardi/File Photo Acquire Licensing RightsMILAN, Sept 20 (Reuters) - U.S. fund KKR and Italy's Treasury are set to ask Telecom Italia (TIM) for more time to arrange a joint bid for its landline grid, three sources close to the matter said. KKR (KKR.N) last month won the backing of Prime Minister Giorgia Meloni's government, which authorised the Treasury to join its bid for an asset deemed of strategic national interest. The U.S. fund's preliminary bid valued the business -- dubbed NetCo -- at around 23 billion euros ($25 billion) including debt and taking into account a number of variables. The French group, which owns 24% of TIM, has so far shown little appetite for a deal under KKR's terms. The Treasury is evaluating the request, one of these people said, without adding further details.
Persons: Yara, Giorgia, Arnaud de Puyfontaine, Giancarlo Giorgetti, Elvira Pollina, Giuseppe Fonte, Alvise Armellini, Alexander Smith Organizations: REUTERS, KKR, Italy's Treasury, Telecom Italia, Treasury, TIM, NetCo, Reuters, Vivendi, Thomson Locations: Rome, Italy, U.S
MILAN, Sept 15 (Reuters) - The two eldest heirs of late media mogul Silvio Berlusconi have agreed an open-ended pact which binds them to vote together at the family holding company's shareholder meetings, regulatory filings showed on Friday. In his will, Berlusconi, who died aged 86 in June, handed Marina and Pier Silvio, the offspring from his first marriage, joint control of his media and financial empire held by family holding company Fininvest. Under their pact, Marina and Pier Silvio, each owning a 26% indirect stake in Fininvest, agreed to consult at least five days before any Fininvest shareholder meeting to agree a joint position, the documents showed. The agreement secures a dominant influence of the eldest heirs over the family holding company, the regulatory filings said. All of the heirs agreed a lock-up period of five years, during which time they have pledged not to alter the stakes they hold in Fininvest, the filings showed.
Persons: Silvio Berlusconi, Berlusconi, Mediolanum, Berlusconi's, Barbara, Eleonora, Luigi, materialises, Elvira Pollina, David Holmes Organizations: Marina, Silvio, Mondadori, Thomson Locations: Marina, Fininvest, Milan
A man poses with an Apple iPhone 12 in a mobile phone store in Nantes, France, September 13, 2023. REUTERS/Stephane Mahe Acquire Licensing RightsMILAN, Sept 15 (Reuters) - Italy plans to ask Apple (AAPL.O) to issue a software update for iPhone 12 users in the country, according to a government source, after the U.S. company offered to make similar changes in France to end a row with regulators there over breaches of radiation exposure limits. Reporting by Elvira Pollina in Milan; writing by Josephine Mason; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.
Persons: Stephane Mahe, Elvira Pollina, Josephine Mason, Jason Neely Organizations: Apple, REUTERS, U.S ., Thomson Locations: Nantes, France, Italy, U.S, Milan
Marina Berlusconi and Luigi Berlusconi attend the funeral of former Italian Prime Minister Silvio Berlusconi at the Duomo Cathedral, in Milan, Italy June 14, 2023. REUTERS/Yara Nardi/File photo Acquire Licensing RightsROME, Sept 15 (Reuters) - Marina Berlusconi, the daughter of former Prime Minister Silvio Berlusconi, on Friday criticised Italy's windfall tax on banks, underlining divisions over the issue in the coalition government that includes her late father's party. Prime Minister Giorgia Meloni has taken personal responsibility for the measure, which targets extra profits made by banks from higher interest rates. "Who determines when a profit is extra and when it is normal?," Marina Berlusconi said to reporters after the assembly of influential Italian business lobby Confindustria. Meloni has said she was open to some modifications, provided the targeted tax take remained unchanged at "just under" 3 billion euros ($3.2 billion).
Persons: Marina Berlusconi, Luigi Berlusconi, Silvio Berlusconi, Yara, Giorgia Meloni, Pier Silvio, Meloni, Berlusconi, Fininvest, Mediolanum, Antonio Tajani, Elvira Pollina, Giuseppe Fonte, Keith Weir Organizations: Italian, Cathedral, REUTERS, Rights, Forza Italia, Thomson Locations: Milan, Italy
The "Made in Italy" fund, which was approved in May, will have an initial endowment of 700 million euros ($756 million) in 2023 and an additional 300 million next year in state cash. Saudi Arabia will focus on energy, sustainability, supply chains and sport to expand its presence in Italy, Investment Minister Khalid al-Falih said at the same event. Italian exports to Saudi Arabia totalled just over 4 billion euros in 2022, much from manufacturing, while imports totalled more than 7.4 billion euros, the bulk from oil products. Also at the Milan event, leading Italian energy company Eni (ENI.MI) and Saudi Acwa Power (2082.SE) agreed to jointly develop a green hydrogen project in the Middle East and Africa. Saudi Arabia has a well advanced project dubbed NEOM to produce green hydrogen at home while Italy so far has not developed yet any plan to produce it in significant quantity.
Persons: Adolfo Urso, Giorgia Meloni, Meloni, shrugging, Urso, Khalid al, Falih, Power, De Nora, Giuseppe Fonte, Keith Weir, Angus MacSwan, Alexander Smith Organizations: Energy, Italy's Industry, Reuters, Italy's, Investment, European Union, EU, Saudi, Eni, Saudi Acwa, Thomson Locations: Italy, MILAN, Saudi Arabia, Saudi, Rome, Riyadh, Milan, Kingdom, Meloni, East, North Africa, Russia, Africa
EU Economic Commissioner Paolo Gentiloni holds a news conference on the European Commission's economic forecasts for the EU for 2023 and 2024 on GDP and inflation, in Brussels, Belgium February 13, 2023. REUTERS/Johanna Geron/File Photo Acquire Licensing RightsCERNOBBIO, Italy, Sept 2 (Reuters) - European Union Commissioner for Economy Paolo Gentiloni said on Saturday he was confident an agreement over re-implementing EU budget rules would be reached by year-end, ruling out an extension of their suspension into 2024. "I'm confident, I'd say I have to be confident, that a deal (over the new budget rules) can be reached by year-end," Gentiloni told reporters on the sidelines of the European House Ambrosetti economic forum in Cernobbio. Italy is preparing a difficult 2024 budget in which it will seek to meet Prime Minister Giorgia Meloni's tax-cutting promises while at the same time reducing the deficit while faced with an economic slowdown. Gentiloni said failing to reach a deal on reviving the rules would mean a return to previous budget rules that did not help promote economic growth and cut sovereign debt in the bloc.
Persons: Paolo Gentiloni, Johanna Geron, Gentiloni, Giancarlo Giorgetti, Giorgia, Christine Lagarde, Elvira Pollina, Giselda, Tomasz Janowski, Helen Popper Our Organizations: EU, REUTERS, Union, House, Italian Economy, European Commission, European Central Bank, ECB, Thomson Locations: Brussels, Belgium, Italy, Ukraine
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