Italy’s economy minister has indicated that the European Union might reassess its stringent budget deficit regulations for member countries, amid ongoing economic repercussions from the US-Israel conflict with Iran. The minister’s comments come as the global economy continues to grapple with the aftermath of the crisis. Currently, the EU mandates that member states maintain budget deficits below 3 percent of their GDP. In an interview with reporters in Rome, Giancarlo Giorgetti expressed his opinion that a European-wide discussion on the matter may become unavoidable unless the economic situation improves. He also revealed that he has already brought up the issue with his European counterparts.
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