Italy's Monti to ask EU summit for flexibility on deficits

BRUSSELS (Reuters) - Italy will ask its European Union partners to grant it more flexibility in its budget deficit objectives to help efforts to boost its stagnant economy, Prime Minister Mario Monti said on Thursday.

"Reasonable margins for flexibility have been introduced and we will ask to be able to avail ourselves of these margins," he told reporters as he went into the meeting in Brussels.

Italian officials have said that Rome wants to be able to increase its deficits to finance productive investments with the capacity to boost its stagnant economy, stuck in its longest recession for 20 years.

(Reporting by Francesco Guarascio; writing by James Mackenzie)