Debt Conflict: European Commission Rejects Italian Draft Budget

REUTERS  Lisi Niesner

"Of course, Italian public finances we cause a lot of hassle, but we do not have prejudices", was assured on Tuesday the president of the eu executive Jean-Claude Juncker in an interview with several television and radio stations in italy.

The budget Italian could be the subject of informal discussions between the heads of State and government of the EU on the occasion of a european summit on Thursday in Brussels. In Bali, where policy makers gathered for the annual meetings of the International Monetary Fund and the World Bank, Mario Draghi, the Italian president of the European Central Bank, sought to reassure his colleagues that a compromise would be found between the government's ambitions and the demands of financial stability.

Mr Juncker announced his rejection of the budget, which would increase Italian deficit spending to 2.4 percent of GDP, remarking that "saying yes would lead to violent reactions from other Eurozone countries", Il Giornale reports. That is below the EU's three percent limit, but EU officials believe the real costs will be higher, as the European Commission prepares to assess the plan. Sell On The Trumpets.

Trump Praises Montana Congressman for Body Slamming Reporter
Donald Trump praised Congressman Gianforte and called him "an incredible Montana leader". During his Thursday night Montana rally, President Donald Trump praised Republican Rep.


Conte said the budget was founded on the need to boost investments, which had been lacking in Italy in recent years, and added that Italy's membership of the European Union was "unrenounceable". "Europe needs Italy and Italy needs Europe", Juncker said, answering "No" when asked if Europe could survive an Italian exit.

He said: "I am not going to Moscow because they pay me in roubles, as some have written, but because the problem is resolved with dialogue not with embargoes".

Goldman concludes that while it does not expect the EC to initiate a formal procedure vis-à-vis France, the EC will likely send a formal warning to Italy to initiate a significant deviation procedure. European Union officials hope that during that period the government will be open to talk with the European Union and make adjustments to its budget, though they concur that a lot will depend on how investors react to this standoff and the willingness of the country's leadership to cave in to market pressure.

Trump opens new front in his battle with China: global shipping
The UPU is a 144-year-old United Nations treaty that coordinates worldwide postal policies. Postal Service and American retailers".


"I have read Oettinger's comments and I repeat that they should stop invading our field and just let the Italian government work", Deputy Prime Minister Matteo Salvini said on Facebook.

Meanwhile, the earlier news of a warning about a potential sovereign credit rating downgrade and the Spiegel news have pushed Italian 10Y yield 7bps higher, back over 3.50 percent, erasing most of yesterday's gains.

U.S. health officials alarmed over paralysing polio-like disease affecting children
A general view of the Centers for Disease Control and Prevention (CDC ) headquarters in Atlanta, Georgia September 30, 2014. Yet, experts still do not understand crucial aspects of the disease, including its origins and who is most at risk.


Related news:

Hot News

isis-killer-beheading-video-story-top How to watch LeBron James' Lakers debut vs. Trail Blazers
Oct 19, 2018 - 18:58
He explained that it's not like "instant oatmeal" and applauded his teammates' fight to get back in the game after trailing by double digits.

isis-killer-beheading-video-story-top Saudis begin internal probe into journo's disappearance as U.S. tensions intensify
Oct 19, 2018 - 18:25
Turkey believes Khashoggi was deliberately killed in the Saudi consulate and his body was removed on Oct 2. On Sunday, Saudi Arabia warned Washington that it would retaliate against any USA sanctions.

isis-killer-beheading-video-story-top Twitter Publicly Shames Russian Troll Accounts: Publishes 10 Million Tweets
Oct 19, 2018 - 18:06
The Iran operation was largely pushing pro-Iranian government messaging overseas and directing users to certain websites.

isis-killer-beheading-video-story-top Massive lines outside Canada marijuana shops after country legalizes weed
Oct 19, 2018 - 17:44
Canada said it intends to pardon everyone with convictions for possessing up to 30 grams of marijuana, the newly legal threshold. Shopify is powering numerous provincial online stores and says it has recorded than 100 cannabis orders per minute.

isis-killer-beheading-video-story-top October 30 also date of Apple's Mac and iPad Pro event
Oct 19, 2018 - 17:38
It's also worth mentioning that Apple's next-gen iPad Pro models will reportedly ship without a traditional 3.5mm headphone jack. Apple could also launch AirPower , the wireless charger for iPhones that is supposed to come out in 2018.

isis-killer-beheading-video-story-top Azhar Ali's freaky run out leaves Twitterati in splits
Oct 19, 2018 - 17:27
A "brain fade" has been blamed for one of the most freakish dismissals in cricket history after a Pakistani batsman failed to run. The way my team played the first match, we nearly won it but couldn´t.

isis-killer-beheading-video-story-top Jurgen Klopp makes Huddersfield promise amid Reds' injury woes
Oct 19, 2018 - 14:36
David Wagner believes that Jurgen Klopp will still name a strong side this weekend when the two sides meet on Saturday night.

isis-killer-beheading-video-story-top Shaw signs new five-year deal with Man Utd
Oct 19, 2018 - 13:27
Here, we trace how one of English football's brightest young talents escaped from the crosshairs and got back on track. Luke Shaw signs a new long-term contract with Manchester United until the summer of 2023.

isis-killer-beheading-video-story-top Robert Mueller to Release Russia Findings Immediately After 2018 Midterms
Oct 19, 2018 - 13:27
Special Counsel Robert Mueller is gearing up to announce the Russian Federation probe's key findings, per a Bloomberg report.

isis-killer-beheading-video-story-top Turkish official: Police found evidence of Khashoggi slaying
Oct 19, 2018 - 13:21
Meanwhile, the consul general himself, Mohammed Otaibi, left Turkey on Tuesday, the semiofficial Anadolu news agency said. Overnight, Turkish police completed a search of the consulate after being admitted by Saudi authorities.

isis-killer-beheading-video-story-top Australia staring down the barrel in Abu Dhabi Test
Oct 19, 2018 - 12:36
On third day of the Test, Azhar Ali, on 64, edged past gully on the third ball of the 53rd over bowled by Peter Siddle. Pakistan have continued batting on Thursday afternoon after Australia was rolled for 145 in the first innings.

isis-killer-beheading-video-story-top Trump threatens to send military against immigrant 'onslaught'
Oct 19, 2018 - 11:46
Trump has threatened to cut aid to Honduras and Guatemala if their governments do not stop the caravan. Trump did not detail his military threat, nor his comments on the trilateral trade deal.

isis-killer-beheading-video-story-top NBA Preview: It’s the Warriors, then everyone else
Oct 19, 2018 - 09:43
Luckily, the Lakers do have the best player in the world in LeBron James , and that can help them win any game on any night. The Warriors still have Kevin Durant , Stephen Curry, Klay Thompson , Draymond Green and Andre Iguodala.

isis-killer-beheading-video-story-top Woman leaves child alone at doorstep
Oct 19, 2018 - 09:09
The mother was being interviewed by police on Thursday, authorities said, but said she was not who left the child at the doorstep. Officials say the mother had been in the hospital during the incident and was released on Thursday morning.

isis-killer-beheading-video-story-top Duchess Meghan Markle baked her own banana bread in Australia
Oct 19, 2018 - 09:04
The duke and duchess went on to be given a taste of Australia as they had lunch at Charcoal Lane, a social enterprise restaurant in Melbourne's trendy Fitzroy suburb.