Italy and EU agree on 2019 budget

Italy and the European Commission, the EU’s executive arm, have announced a new budget deal after weeks of wrangling over the country’s 2019 spending plans.

Italy’s government said last week that it would lower its deficit target for next year to 2.04 percent, down from an original target of 2.4 percent. The target was confirmed by the Commision on Wednesday.

“The Italian government has come a long way, only a few weeks ago there was confrontational rhetoric,” the European Commission’s Vice President Valdis Dombrovskis said Wednesday, meaning that the Commission can avoid launching disciplinary measures against Italy, he told reporters.
CNBC

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Craig Erlam

Craig Erlam

Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam