The European Commission has frozen an overdue 19-billion-euro ($20.50 billion) tranche of post-pandemic funds for Italy, requesting clarification over Rome's efforts to meet the 'targets and milestone' needed to unlock the money.
Italian Prime Minister Giorgia Meloni delivers statements with Dutch Prime Minister Mark Rutte at Chigi Palace in Rome, Italy, March 8, 2023. REUTERS/Remo CasilliPM Meloni has a month to persuade Brussels to unlock the moneyROME, March 27 - The European Commission has frozen an overdue 19-billion-euro tranche of post-pandemic funds for Italy, requesting clarification over Rome's efforts to meet the "targets and milestone" needed to unlock the money.
The extra time means Italy has now until the end of April to persuade Brussels to release the funds, a government source told Reuters. The Commission is proposing to limit the maximum duration of these concessions, the Italian government statement said.
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