Italy says new Greek bailout must focus on both budget and growth

ROME (Reuters) - Italian Economy Minister Pier Carlo Padoan said on Friday that negotiations with Greece on a third bailout programme must be balanced and aimed at both keeping spending in check and fostering growth. "The programme must be balanced, containing measures that put it on a path toward a sustainable budget while also helping growth and creating jobs," Padoan said in a statement. "It will be a delicate negotiation that must keep in mind the lessons learned from past experiences." The European Stability Mechanism, the euro zone's bailout fund, decided earlier on Friday formally to open negotiations with Greece on a bailout programme that could total 86 billion euros ($93.3 billion) over three years. In light of the decision to open negotiations for a new bailout, Padoan said euro zone countries expect "a season of reforms that authorities in Athens should implement with conviction in the interest of the Greek people." (Reporting by Steve Scherer)