Rome

Italy to cut debt with sale in company stakes, says Letta

Debt to be cut with real estate, shareholding sales

Italy to cut debt with sale in company stakes, says Letta

Rome, July 25 - Premier Enrico Letta said Thursday that Italy would move to lower its massive national debt by selling government-owned real estate and stakes in public-controlled companies. He added that Italy needs to accompany economic-growth boosting policies with rigour in management of the State budget, even if this is an unpopular. ''I say this even if it is not going to win support'', Letta said. ''A good head of the household has a duty to say no. Public accounts need to be kept in an orderly fashion, and the 3% (deficit ceiling) is the condition required for more flexibility''.

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