Yesterday, the big European news was around Italy budget deficit again. Even Theresa May’s visit to Brussels was overshadowed by the Italian issue. On the other side of the world, Japan is still struggling to raise its CPI figures.
EU THREATENS ITALY WITH SANCTIONS IF IT DOES NOT COMPLY
Once again, the Italian budget deficit took the centre stage. Yesterday, the European Commission had rejected Italy’s budget plan, stating that it involves too much spending, which does not comply with EU rules.
The European Commission said that it is looking into implementing its Excessive Debt Procedure (EDP). The EU has around two weeks now to discuss if they should proceed with...
Of course, one should remember that there are still radical ideas circulating in Italy around the Italian version of Brexit, Italexit, which could start getting more interest if tensions with the EU accelerate. As we know already, Italy’s Deputy Prime Minister Matteo Salvini stated...
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