On Monday 8 July, euro area finance ministers expressed, on their arrival at the Eurogroup, their satisfaction with the Commission's decision on 3 July not to ultimately recommend to the EU Council that an excessive deficit procedure based on debt criteria against Italy be opened (see EUROPE B12288A10), while remaining cautious about the coming months.
Noting that Italy had avoided such an outcome, as the Italian authorities “took measures” to satisfy the Commission, Mário...