New Italian Economy Minister Vows to Stay in Euro and Cut Debt Level

New Italian Economy Minister Vows to Stay in Euro and Cut Debt Level
Italian Economy Minister Giovanni Tria attends as Prime Minister Giuseppe Conte (unseen) speaks during his first session at the Lower House of the Parliament in Rome, Italy, June 6, 2018. Reuters/Tony Gentile
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ROME—Italy’s new coalition government has no intention of leaving the euro and plans to focus on cutting debt levels, Economy Minister Giovanni Tria said on Sunday, looking to reassure nervous financial markets.

Italian government bonds have come under concerted selling pressure on fears the government will embark on a spending splurge that Italy can ill-afford and markets are wary that euro-skeptics within the coalition might try to push Italy out of the eurozone.