Italy Prepares 16 Billion Euro for Virus

Italy Prepares 16 Billion Euro for Virus

Following the agreement of the European Union to relax the budget rules due to the support of the member countries coronavirus, officials stated that Italian Prime Minister Giuseppe Conte is preparing to increase Italy's financial incentive program four times in a month. As finance ministry officials in Rome worked out how to raise the currently existing package to 16 million euros ($18 billion), Conte held a video meeting with other European Union leaders on Tuesday, urging them to show the same solidarity and determination they showed during the euro crisis. The spokesperson of the Italian Ministry of Finance refrained from commenting on the issue. European Commission President Ursua Von Leyen said, “We will use all our flexibility in the Stability and Growth Package. We will clarify the rules of the game in a very short time. The outline of the issue will be clear by the end of the week. ” Portuguese Prime Minister Antonio Costa said on Thursday that the Board of Directors will meet with European Central Bank President Christine Lagarde that Lagarde will propose some measures to support small and medium-sized companies. Another official with information about the meeting said that Lagarde warned governments to do their part with financial incentives.