Italy EU Stand Off to Ease as Rome to Give Some Concessions

Italy looks set to defuse a row with the EU after weeks of publicly defying officials in Brussels over its high-spending budget plans.

Its leaders wanted to “end poverty”, raising the deficit to 2.4% of GDP.

But in an unprecedented move, the European Commission said they should revise the budget and tackle debt.

Deputy Prime Minister Luigi Di Maio said on Monday his government might be willing to reduce the deficit target to end the standoff.

“If, during the negotiating process, the deficit has to be reduced a bit, that’s not a big deal,” Mr Di Maio said.
Italy’s draft budget contains expensive measures for introducing a guaranteed basic income of about €780 (£700) for poor families, and raising the retirement age.

“The important thing is that not one person misses out on the (pledged) measures,” Mr Di Maio added.

vai BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza