There is not a firm time scheduled for the European Union judgement on Italy's budget, but the best estimate is around midday Europe time

  • 1200 Central European Time
  • Which is 1100 GMT

The soup reference … there is conjecture its likely the EU will not be happy with the Italian targets in the budget:

  • likely to say that Italy is in breach of the EU law
  • public debt cannot be higher than 60% (or should be falling towards 60% at an acceptable rate) (its around 130% and not falling)

Eu disapproval of the Italian budget should be a negative input for the euro, but its pretty much baked in already I would suggest.