Jean-Claude Juncker: ‘I rule out Italy leaving the euro’

Italy is on the road to economic recovery and won’t be leaving the eurozone, European Commission President Jean-Claude Juncker said in an interview with La Repubblica published Wednesday.

Juncker said he had yet to see the details of the budget cuts agreed to by the country’s government Tuesday, “But certainly the commitment of the Italian government is going in the right direction.”

Italy must “decisively” reform its public finances and cut debt in the medium to long term, the Commission president said. “In the meantime let’s clearly say that I rule out Italy leaving the euro.”

Juncker said he appreciated Rome’s efforts in tackling Italy’s banking crisis.

He also praised the role Rome has played in the migrant crisis. “Italy deserves the Nobel Peace Prize considering what it does to save lives in the Mediterranean.”