Italy needs to adopt a 'frugal' budget in order to allay market concerns, German Chancellor Angela Merkel said Monday (11 July), as EU officials were trying to downplay worries the eurozone's debt crisis would spread to the single currency's third biggest economy.
"Italy must itself send an important signal by agreeing on a budget that meets the need for frugality and consolidation," Merkel said during a press conference in Berlin.
She added that she spoke by phone to Italian Prim...
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