eputy Premier and Foreign Minister Antonio Tajani said Thursday that Italy is “not prejudicially against” reform of the Stability Pact while stressing that “we want there to be balance” in the EU’s new budget rules.

Premier Giorgia Meloni has not ruled out Rome vetoing a new Stability Pact if it considers the rules unworkable as they are two stringent with countries, like Italy, that have high public debts.

If an agreement is not reached on a new Pact the old rules, which have been suspended since the COVID-19 pandemic broke out in 2020, will come back into force next year.

“The negotiation is ongoing,” Tajani told reporters on the sidelines of the EPP pre-summit meeting in Brussels in reference to the new Stability Pact.

“The president of the Council spoke about it yesterday and he has been talking about it over the last few days with European leaders.

“I hope that we can call an Ecofin meeting and then reach an agreement”.