If Brussels rejects Italy's spending plans, here's what could happen next [CNBC]
Comcast Corporation - Class A (CMCSA)
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Source: CNBC
ALBERTO PIZZOLI | AFP | Getty Images Italys Labor and Industry Minister and deputy PM Luigi Di Maio (L) and Italys Interior Minister and deputy PM Matteo Salvini smile before the swearing in ceremony of the new government at Quirinale Palace in Rome on June 1, 2018. The European Union could derail Italy's big spending plans this week, with speculation mounting that officials in Brussels are set to reject the anti-establishment government's 2019 draft budget. Even the Italian government is reportedly expecting the European Commission, the EU's executive arm which checks and approves euro zone budgets before they are adopted by national parliaments, to decide for the first time ever on Tuesday to ask a member state to revise its draft budget. The Commission has already indicated that it is not happy with the plans, warning last Thursday that the draft is in serious breach of, and an unprecedented deviation from, EU spending rules. Reject
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