European Union commissioner for economic affairs said he was keen to pursue dialogue with Italy over the country’s contentious budget but refused to talk of compromise with Rome, insisting that rules must be respected.
The European Union’s deputy chief executive hailed Democratic victories in the U.S. midterm elections in comments that took a clear swipe at what he called “rudeness” and “racism” under President Donald Trump.
European Union could impose sanctions on Italy if no deal is reached on the country’s budget for next year, the bloc’s commissioner for economic affairs said.
European Union is opposed to the United States’ decision to reimpose oil and financial sanctions against Iran, European Economic Affairs Commissioner Pierre Moscovici said.
There is at least a chance that Italy’s rising borrowing costs could trigger a new sovereign debt crisis in the euro zone, JP Morgan chief Jamie Dimon told the German newspaper Handelsblatt.
The Treasury will publish its letter responding to EU Commission criticisms of Italy’s 2019 budget at midday (1000 GMT) on its official website, a Treasury spokeswoman confirmed on Monday.
European Economic Affairs Commissioner Pierre Moscovici said the European Commission did not want any crisis with Italy over its budget plans but that the EU executive still had questions and was awaiting answers.
Italy’s Deputy Prime Minister Matteo Salvini on Monday dubbed European Commission President Jean-Claude Juncker and Economics Commissioner Pierre Moscovici as enemies of Europe.
The targets set out in Italy’s budget plan are a “source of serious concern”, the European Commission said in a letter published by Italian daily la Repubblica.
Italy’s Deputy Prime Minister Matteo Salvini on Friday accused top European Commissioners of wrecking Europe, and said he hoped next year’s European parliamentary elections would change the EU political landscape.