Italy talks up its expansionary budget as clash with EU looms [Reuters]
Comcast Corporation - Class A (CMCSA)
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Source: Reuters
Italy talks up its expansionary budget as clash with EU looms | Reuters 5 Min Read * Ruling populists stick with contested deficit target * Italian bond yields drop, gap with German bunds narrows * European Commission has two weeks to review * Commission has power - never used - to reject budget By Angelo Amante and Crispian Balmer ROME, Oct 16 (Reuters) - Italian Prime Minister Giuseppe Conte said on Tuesday he was proud of his government’s freshly approved expansionary budget while the European Commission warned it may run into opposition from euro zone partners. Italy’s governing coalition of the right-wing League party and anti-establishment 5-Star Movement vow not to backtrack, saying their big-spending plan is needed to boost growth and tackle worsening poverty in the euro zone’s third-largest - but most sluggish - economy. On Monday night the coalition approved the 2019 budget bill that boosts welfare spending, cuts the retirement age and hikes deficit spending. The weeks of wr
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