Brussels, 11/07/2006 (Agence Europe) - On 10 July, Italian economy minister Tommaso Padoa Schioppa gave his Eurogroup counterparts a detailed breakdown of the mini budget adopted by Rome about ten days ago, and presented the economic and financial programming document put forward last Friday, Jean-Claude Juncker told press after the meeting (see EUROPE9229). “Given (Mr Padoa Schioppa's) tenacity”, we are “convinced” that it is possible for Italy to meet its obligations and bring its deficit back below 3% in 2007, as indicated in the documents from Rome (with a deficit of 2.8% of GDP forecast for next year and a return to balanced public accounts in 2011). “We take account of good intentions, but even more of concrete measures,” stressed Commissioner Joaquin Almunia. He said he would keep a close eye on the situation, particularly the implementation of the measures announced. Although he anticipates that the correction expected by the Council for 2006 (a deficit reduction of 0.8% of GDP through structural measures) will probably not be achieved, Mr Almunia will await the 2007 budgetary measures that the Italian government is due to adopt at the end of September before saying anything. While these measures offer the opportunity to bring the deficit back to within the limits set by the Council before the end of 2007, “our assessment of the work (for 2006) will be positive, even though the structural adjustment is a bit late,” said Mr Almunia.