Italy's budget poses no "Greek-like" threat to EU financial stability

Dombrovskis said he had sent a letter to Italy expressing concerns about the budget plan.

Italy's planned budget plan does not pose a "Greek-like" threat to European Union financial stability, the bloc's financial services chief said on Thursday.

Asked if Italy was facing a crisis like Greece did during the eurozone debt crisis, Dombrovskis said: "I would not jump on that kind of speculation".

The Italian government HAS unveiled the core of its expansionary multi-year budget plan, raising the target for the fiscal deficit to 2.4 per cent of the gross domestic product next year, three times the 0.8 per cent goal set by the previous centre-left administration.

Dombrovskis said he had sent a letter to Italy expressing concerns about the budget plan. 

(With inputs from agencies.)