Italy's Tria Faces Hard Sell on Budget to Euro Colleagues
- Government’s 2.4% deficit target spooked financial markets
- President, central bank chief joined weekend verbal brawl
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Italian Finance Minister Giovanni Tria must sell Italy’s wayward budget to euro-area counterparts this week after initial targets alarmed investors.
While the 2019 spending plan is not on Monday’s Eurogroup agenda in Luxembourg, Tria is certain to face questions about the proposal on the sidelines of the closely watched talks. The key detail released so far -- a 2.4 percent deficit target -- put Italian assets under intense pressure on Friday, with stocks and bonds falling.