In a letter to the European Commission on October 30, Italy defended its 2018 budget. It said Brussels did not recognise the extent of its efforts because it used different calculations.

Last week, the EU executive said the structural adjustment planned by Italy, which has the euro zone's second-highest public debt burden relative to its output, was below what is required.

As reported by The New York Times, Italy pledged to cut its structural deficit by 0.3% of gross domestic product this ...

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