According to Bloomberg
There were some questions raised after a dispute over tax amnesty yesterday but at the end of the day prime minister Giuseppe Conte managed to approve it on deadline day itself after removing a tax break used by banks and insurers.
The submission isn't really something to cheer about as this is where the real issue begins for Italy. The European Commission as it stands are almost likely to reject the draft proposal here but the key risk ahead lies in the next two weeks with rating agencies set to weigh in on their review of Italy's sovereign debt - which currently sits two grades above junk status.
S&P Global Ratings will deliver their verdict on 26 October while Moody's said they will do so "at the end of this month". Expect any form of downgrade to weigh on Italian assets and the euro when the time comes.
