Economics
EU Spares Italy From Debt Censure as Budget Update Convinces
- EU’s executive body doesn’t take any disciplinary action
- Populist government sees 2019 deficit in line with EU rules
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The European Commission decided to withhold disciplinary action against Italy over its debt after the government in Rome offered fresh commitments that address some of Brussels’ concerns.
“The commission has concluded that a debt-based Excessive Deficit Procedure for Italy is no longer warranted at this stage,” Economic Affairs Commissioner Pierre Moscovici told reporters in Brussels on Wednesday after a meeting of the European Union’s executive arm.