Reuters International

Italian Prime Minister Matteo Renzi leaves the EU Summit in Brussels, Belgium, June 28, 2016. REUTERS/Francois Lenoir

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BRUSSELS (Reuters) - Spain and Portugal risk European Union sanctions for their public deficits, Italy's prime minister said on Wednesday after an EU summit where leaders discussed member countries' fiscal gaps and banks.

"Today we discussed little about banks and a lot about deficits. There are two countries that risk sanctions for their deficit. I am talking about Spain and Portugal," Matteo Renzi told reporters after the meeting that for the first time was held without Britain, following the 23 June referendum.

Renzi said that Italy backed Spain's and Portugal's stance opposing sanctions. "It's absurd not to use common sense," Renzi said.

(Reporting by Francesco Guarascio; editing by Robert-Jan Bartunek)

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