For the first time ever in the history of the Stability and Growth Pact, the European Commission on Tuesday 23 October asked Italy to present a new draft 2019 budget within three weeks, as the initial draft presents a significant risk of deviating from the structural deficit adjustment required (not including cyclical effects).
“Today, the Commission is obliged to request a euro area country to revise its draft budgetary plan”, the European Commissioner for the Euro and Social Dialogue,...