EU Heading for Euro CRISIS as Italy Budget CANNOT be Stopped ‘Italy Can’t Beat the Market’

• EU Heading for Euro CRISIS as Italy Budget CANNOT be Stopped ‘Italy Can’t Beat the Market’
  by CIARAN MCGRATH, https://www.express.co.uk/
  THE EU is powerless to block Italy’s deficit-busting budget – meaning the showdown between Brussels and Rome is likely to escalate to the point where it triggers a market crisis, a financial analyst has warned.
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  But Vitor Constancio has warned the anti-establishment coalition of Lega’s Matteo Salvini and Five Star Movement’s Luigi Di Maio they “cannot beat the market”. Italy has been on a collision course with the EU ever since unveiling budget plans to run a budget deficit amounting to 2.4 percent of GDP, which would amount to roughly almost £40 billion (€44 billion).
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  The proposals do not exceed the three percent ceiling set out in EU rules, but Italy had previously pledged to the cut the deficit significantly to reduce its mammoth debt, which is approaching €2.5 trillion. Mr Constancio, the European Central Bank’s financial stability chief, said the situation was extremely difficult to resolve because the EU were effectively powerless to compel Italy to change its plans.
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