Italian economy minister wants ECB rate cut

Italy's deputy economy minister Mario Baldassari said he favours the European Central Bank cutting its interest rates, as well as the euro being valued at parity with the dollar.

In an interview in Il Giornale, Baldassarri said yesterday's second quarter rise in GDP of 0.7 pct was a "good signal", and growth could be faster and the deficit lower with a weaker euro.

"The rates of interest are an arm of economic policy. The US Federal Reserve uses this sword, while the ECB keeps it closed in its

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