EU says 'no intention' of extension on deficit cuts

Italy seeking more time to reduce mark below 3%

EU says 'no intention' of extension on deficit cuts

Brussels, April 2 - The European Union said Tuesday that it has "no intention" of evaluating whether to grant an extension on deficit cuts to any country beyond the trio already announced. That statement may come as a shock to Italy, which is seeking more time to cut its deficit below the 3% target set by EU nations. A spokesman for the group said the EU has no plans to consider expanding its list of countries allowed to miss the targets, which includes Spain, Portugal, and France. That came in response to a question about including Italy and the Netherlands on the list.

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