Italy's economy minister says privatizations should proceed with caution

HELSINKI (Reuters) - Italy’s economy minister Roberto Gualtieri said on Saturday that privatization targets set by the previous Italian government were “unrealistic”, and warned the sale of government shares in public companies should proceed with caution.

Gualtieri, speaking after his first meeting with EU finance ministers since the new Italian government took office last week, also said it would be “counterproductive” if Italy adopted an austerity budget this year. He urged instead the euro zone to adopt an expansionary fiscal stance to revive growth.