The Italian government will be forced to cut “a few billion” across two of its flagship policies to meet the lower deficit target it has proposed to the European commission .
Italian bonds rallied after the government bowed to pressure to reduce its deficit target for 2019 to stave off EU sanctions. The country’s prime minister, Giuseppe Conte, proposed cutting the target from 2.4% to 2.04%.
“We have recovered some financial resources, we have been very prudent,” Conte said after meeting the European commission president, Jean Claude Juncker, in Brussels on Wednesday. “And we are now using these financial resources for […]
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