Italy’s draft budgetary plan (DBP) for 2015 was submitted to Brussels for review and not only are they going to slow their debt to GDP reduction, they are going to miss the stability and growth pact (SGP) rules.
Naughty, naughty, you may think? How will the EU deal with such a flouting of the rules?
Read for yourself as the light fingered Livesquawk mob (via Italy’s Ilsole24ore) has a copy of the response from EU’s Jyrki Katainen.
EU Italy budget response 23 10 2014
EU spokesman, Simon O’Connor, says that nothing has been concluded on the Italian budget assessment.