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Adding to his earlier comments, EU’s economic and monetary commissioner Pierre Moscivici was further noted saying that EU forecast on Italy is made based on October’s budget proposal and growth projections differ as EU forecasts are more conservative.

Additional quotes:

   “¢   Still expecting revised Italian budget by 13 November.
   “¢   Rules have to be respected and procedures have to be adhered to.
   “¢   Doesn’t see how it’s possible to “split down the middle” on budget.
   “¢   Confrontation is never the right approach.
   “¢   The situation may look different depending on what Italy responds with next week.
   “¢   There is no future for Italy outside the Euro-zone.