A new Italian banking crisis would quickly turn into a fresh European financial crisis. by Karen Maley
"The idea that this budget will blow up Europe is totally unfounded," said Italy’s Economy Minister Giovanni Tria this week after Rome formally sent through the controversial draft for its 2019 budget to Brussels.
But investors remain unconvinced. They know that Rome and Brussels have now entered the period of a phony war, as top European Union officials make one final, desperate attempt to persuade Italian authorities to rewrite their big spending budget If Rome refuses to back down, Brussels could theoretically demand that […]
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