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Livesquawk cites some optimistic comments from the Italian Deputy Prime Minister (PM) Di Maio on the EU-Italian Budget dialogue.

Main Headlines:

Expects Italian yields spreads will fall when we draft pension and income support reform.

Many spending cuts can be made to ensure 2.4pct deficit target is met.

Will cut at least 200 useless laws, will help cut spending.

Doesn’t believe the EU will levy fines on Italy.

Believes dialogue with Brussels on the budget will produce positive results.