Italy minister says EU accepts exceptional circumstances on budget

ROME (Reuters) - The European Union recognizes that "exceptional circumstances" will cause Italy to delay reducing its structural budget deficit, Italian economy minister Pier Carlo Padoan said on Friday. Italy has been pushing the European Commission, which published its assessment of euro zone countries' budgets on Friday, to give it more time to reduce its deficit due to extreme economic weakness. "In Italy's case, the opinion will be something like this: there are exceptional circumstances, that is to say a deep recession, but also positive exceptional circumstances like the structural reform plan that is being put into action," Padoan said at a parliamentary meeting. Commission President Jean-Claude Juncker has said no countries will face sanctions even if their plans break EU rules, but Brussels will re-examine struggling countries' budgets in March. (Reporting by Giuseppe Fonte, writing by Isla Binnie)