Italy look to be ploughing a lonely farrow as they battle to get budget rules relaxed (for other countries, not themselves of course).
They are facing opposition from the ECB, the UK and Germany as well as other southern member states according to MIN sources.
While EC presidencial shoe-in …er I mean candidate Jean Claude Junker has promoted the need to “more understandable” rules within the stability pact, countries like Portugal have objected as they have been forced to toe the line of the bail out programs.
As with all things in Europe they’ll probably settle somewhere in the middle, pleasing all sides, then move the goal posts anyway as they see fit further down the line.
