Comments by the commission's European affairs minister Pierre Moscovici
- The people will pay for Italy's debt situation
- Also says that Eurozone economy is not in a crisis
- Having constructive and firm dialogue regarding Italy budget situation
Italy is yet to officially respond to the rejection of their budget proposal - apart from saying that they will still stick to it and that there is no "Plan B" - and that's setting up for a nervous time over the next few weeks for investors and traders.
And Moscovici's comments are doing nothing but adding more fuel to the fire at this point. The euro is hovering near the lows for the day against the dollar now at 1.1362.
