European Commission will tell five eurozone countries that budget plans risk breaking rules – FT

The Financial Times reports:

The European Commission will on Wednesday tell five eurozone countries, including France and Italy, that their budget plans risk breaching EU budget rules, say three EU officials briefed on the decision.

The other 3 are Austria, Slovenia and Malta.

Yesterday, Reuters estimated that Italy’s budget will be outright rejected. Today is the deadline to notify government of potential non-compliance and the EC would have until the end of the month to formally reject the budgets, which could re-invigorate anti-eurozone sentiment in those countries.