Italian government debt rallied on Tuesday following the revision as the Italian government amended its deficit target on Monday to avoid the threat of the Excessive Deficit Procedure.
The European Commission has threatened to open disciplinary procedures against Rome because it failed to reduce its public debt in 2018 and urged Rome to reign over its deficit in 2019 and 2020. In April Rome upwardly revised its deficit target to 2,4%, unilaterally, in violation of an agreed 2,04% target. On Mon...
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