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Old December 15th, 2018 #178
Stewart Meadows
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Join Date: May 2018
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Quote:
EU CIVIL WAR: Brussels slaps down Italy over budget concessions


THE EU has slapped down Italy over its deficit goal for 2019, even after shock budget concessions were agreed in Rome.

Italy has proposed to cut its planned budget deficit for next year to 2.04 percent from 2.4 percent of gross domestic product. EU economy commissioner Pierre Moscovici said: “It is a step in the right direction but we are not there yet, there are still steps to be taken, perhaps on both sides.” Italy has engaged in a two-month battle with Brussels over the budget triggering a large rally in the country’s bonds.

Yesterday Italy’s 10-year bond yield fell to a two-and-a-half month low.

The EU threatened Rome with disciplinary action claiming their original budget breached prior spending commitments.

Italy drafted a an expansionary budget with a deficit target of 2.4 percent of GDP in 2019 from 1.8 percent this year.
https://www.express.co.uk/news/polit...et-concessions

Last edited by Stewart Meadows; December 17th, 2018 at 06:49 PM.