EU's Moscovici: Sanctions can be applied if there is no compromise on Italy's budget

The European Union's Economic Commissioner Pierre Moscovici was out with some comments on the recent hot topic and said that he expects a strong, precise answer from Italy on the budget by 13 November.

Additional quotes:

   •  Dialogue can continue but expects an answer from Italy by then.
   •  Next steps depend on Italy's budget response.
   •  Says that EU fiscal rules must be respected.
   •  Italy's policy that entails higher public debt is not favourable to growth.
   •  Sanctions can be applied if there is no compromise on Italy's budget.