Italy's Tria: Spread has no influence on intention of deficit target

Italian Economy Minister Tria is on the wires now, via Reuters, delivering remarks on Italian budget proposal.

Key quotes

• Decided to do a budget that is ‘moderately expansionary’.
• In recent years, France has higher deficit than Italy.
• Spread has no influence on intention of deficit target.
• Italian debt has grown less than France's in recent years; this ‘should be considered’.
• Hopes yield spreads fall soon when it is understood that 2.4% deficit goal is a ‘maximum ceiling’.
• Discussion with EU commission continues; ‘Italy's plan are not changing’.