The European Commission reiterated on Wednesday 21 November that the revised draft Italian budget for 2019 was characterised by "a particularly serious non-compliance" of Italy's budgetary obligations under the Stability and Growth Pact.
It also concluded, in a debt report adopted on the basis of Article 126.3 TFEU, that Rome did not respect the public debt criterion with regard to the Treaties, thus paving the way for the opening of an excessive deficit procedure. This would be a...