Italy's economy minister says privatisations should proceed with caution

Italy's economy minister Roberto Gualtieri said on Saturday that privatisation 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.