Economics
Europe Takes a Deep Breath as Action Against Italy Approaches
- Italy has until Nov. 13 to submit revised spending plans
- Government in Rome has said it won’t change its budget law
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The European Commission is ready to escalate its budget battle with Italy.
For all their apprehensions, officials in Brussels are prepared to kick start a disciplinary process to tackle Italy’s unprecedented challenge to the European Union budget regime unless the government in Rome delivers a last minute U-turn.