CERNOBBIO (Reuters) - Italy's credit standing must be defended by the government day after day including by meeting European Union budget rules, Economy Minister Pier Carlo Padoan said on Sunday.
Padoan said the mood on financial markets had improved in recent months, adding however that Italy's credit worthiness should not be taken for granted.
"Italy's credit standing on financial markets must be defended day after day and this is the commitment of the government," Padoan said in a speech at a business forum in northern Italy.
He said that it was very important not to breach the EU's 3 percent ceiling for budget deficit as a percentage of gross domestic product as this was a signal to the markets and not just a "symbolic" threshold.
(Reporting by Valentina Za and Silvia Aloisi)