Italy faces 'sky-high' borrowing costs and needs to present budget facts now, top EU officials warn [CNBC]
Comcast Corporation - Class A (CMCSA)
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Source: CNBC
Tony Gentile | Reuters DATE IMPORTED:June 02, 2018An Italian Army parachutist hoists the Italian flag during the Republic Day military parade in Rome, Italy, June 2, 2018. The worst could be yet to come for Italy if its coalition government sticks to plans to increase public spending, according to the vice president of the European Commission. Italy is due to present its controversial spending plans to the European Commission for approval by midnight Monday, plans which have already caused the government pain in terms of higher borrowing costs. At the end of the day it may be counterproductive for Italy's economy, which may now be confronted with sky-high interest rates, Valdis Dombrovskis told CNBC's Geoff Cutmore during a panel at the International Monetary Fund meeting in Bali. And the government will be confronted with higher debt servicing costs. So this is certainly a factor which also needs to be taken into account when discussing
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