Italy's Tria: Fiscal expansion is still necessary
Italy responds to the EU leaving its budget targets unchanged
- Italy's arguments retain budget validity
If being stubborn is a valid argument, then Italy's government definitely got that right. But in terms of progressing forward with finding a compromise on the debt situation with the European Commission, this just pushes both parties further away from each other.
The issue here has yet to boil over into something that would hurt the euro but it's a risk worth keeping in mind in case it starts to bubble up.