Italy faces higher borrowing costs, sanctions on budget

Italian borrowing costs have risen after the populist government resubmitted draft budget proposals without the significant changes sought by the European Commission. The EU's executive branch acknowledged receipt of Italy's letter and said it would issue its response next week. The Commission had asked for revisions because it said the budget plans would prevent Italy's huge debt burden from falling. […]

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Italy's financial problem is 'self-made,' says CEPS director

The director of the Centre for European Policy Studies told CNBC Italy’s fiscal difficulty is its own government’s fault. He said despite political tension, the euro zone would only become stronger. Italy has until the end of Tuesday to submit an amended version of its 2019 draft budget, after the European Commission rejected its original submission. Italy’s financial turmoil is […]

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Italian Govt Bond Yields Rise on Government Infighting, Growth Revisions

Italian bond yields rose on Thursday after the European Commission cut Italy’s growth estimate and forecast a jump in the budget deficit, and as infighting between Italy’s coalition partners continued. Italy’s 10-year government bond yield rose six basis points higher to 3.39 percent, pushing its spread over higher-rated Germany out to 293 basis points. Infighting between the Italian coalition government […]

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Europe's top banks ease past ECB's latest stress tests; Barclays ranks lowest 

The European Banking Authority (EBA) has released its 2018 stress test results. In the tests, the banks are benchmarked against a core tier ratio — 8% in the baseline scenario and 5.5% in the adverse scenario. The results relate to 48 of Europe’s biggest banks. Results of the stress test of Europe’s bigger banks released Friday revealed that all of […]

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Eurozone Inflation Near 6-Year High

Eurozone inflation accelerated to a near six-year high in October largely on energy prices and the unemployment rate was at its lowest since 2008, despite the economy growing at the slowest pace in four years. Inflation rose to 2.2 percent in October from 2.1 percent in September, flash data from Eurostat showed Wednesday. A similar higher rate was last seen […]

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Italy budget to start parliamentary passage by Wednesday: government source

Related Coverage Italy eyes ways to reduce deficit in 2019 budget: government source ROME (Reuters) – Italy’s parliament will begin debating the government’s 2019 draft budget by Wednesday, two government sources said. The budget, which targets the fiscal deficit at 2.4 percent of gross domestic product, must be approved by both houses of parliament by the end of the year. […]

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Italy's Di Maio warns against party divisions after pipeline U-turn

ROME (Reuters) – Italian Deputy Prime Minister Luigi Di Maio called on Monday for unity within his 5-Star Movement after the anti-establishment party was forced to renege on an electoral pledge to halt a major, international gas transport project. Former party sympathizers set fire to the 5-Star flag in the southern Italian town of Melendugno on Sunday to protest at […]

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