Monday February 24, 2020

French and Italians in a budget face-off with Europe

As financial markets endure a second successive week of uncertainty, a budgetary storm is brewing between France, Italy and the European Commission.

26th October, 2014

Last week, the European Commission flagged concerns over French and Italian budgets for 2015, arguing that the spending plans submitted by Europe’s second- and third-largest economies could see them breach deficit targets set down during the financial crisis.

Experts said that the French and Italian position could effectively see the death of carefully assembled rules on fiscal discipline.

“The decision of France and Italy to openly refuse to meet the requirements of the European...

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