Economics
Italy Faces Off With EU as Pressure Mounts Over Budget
- Markets spooked as EU Commission issues warning on budget
- Premier meets Merkel, Macron, Rutte over 2019 spending plan
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The gloves came off in Italy’s fight with the European Union, as several of the bloc’s leaders attacked the populist government in Rome and the EU’s executive warned that its budget draft won’t fly.
Markets took fright at the prospect of more upheaval in the euro area’s most indebted nation after Greece, with the Five Star Movement-League coalition setting itself on a collision course with Brussels over its spending plans.