As expected in recent days (see EUROPE B12266A18, B12267A18), the European Commission published on Wednesday 5 June a new report on Italian public debt under Article 126.3 TFEU, paving the way for a potential excessive deficit procedure based on debt criteria.
The report "concludes that the debt criterion is not complied with, and the debt-based excessive procedure is warranted". With these words, Valdis Dombrovskis, Commissioner for the Euro and Social Dialogue, began by addressing the...