Time for the showdown

Barclays was out with a note today saying they don't believe the EU will hit Italy with financial sanctions. The risk is the ratings agencies. I believe S&P is due to weigh in next Friday.

Salvini is out with more details:

  • No tax increases

  • early retirement will create 400,000 jobs

  • Cuts to 'privileges' to fund income for the poor

  • 500m euros to be saved from lower spending on migrants