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EU CIVIL WAR: Brussels Chief Threatens Italy with SANCTIONS in Punishment for Budget

  • EU CIVIL WAR: Brussels Chief Threatens Italy with SANCTIONS in Punishment for Budget
    by LAURA MOWAT, https://www.express.co.uk/
    ITALY has been threatened with sanctions from the European Union if it fails to budge on its planned 2019 budget.

    Economic Commissioner Pierre Moscovici said Rome must realise it cannot break the EU’s fiscal rules, which it is in breach of with its bumper spending plan. The EU is concerned the budget proposals would increase Italy’s public debt burden due to the planned boost in spending. Brussels demanded Rome comes up with a revised budget, but Italy has continued to insist it must increase its deficit to 2.4 percent, which breaks EU fiscal rules designed to protect the Eurozone.

    The Commissioner said: “I want a dialogue, but sanctions can be finally applied if we cannot reach an agreement. “On the 13th of November we expect a strong, precise answer from the Italian government.” Mr Moscovici said the next step for Italy depends on the country’s budget response. He has said: “The ball is now in Italy’s court. “Member states must fully respect national democratic choices, but they should not run counter to our rules.”

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November 8, 2018 - Posted by | Economics, GeoPolitics | , , , , , ,

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