Italy raises deficit target, defies EU and rattles markets

Italy raises deficit target, defies EU and rattles marketsItaly has the heaviest debt burden among big European Union economies, at 131 percent of gross domestic product. It is under pressure from the EU to rein in spending amid fears it could sow the seeds of a debt crisis in the euro zone. It marked a victory for the ruling parties over Economy Minister Giovanni Tria, an unaffiliated technocrat whom investors had considered a comparative fiscal conservative.


Source: Yahoo! News

Italy raises deficit target, defies EU and rattles markets

Italy raises deficit target, defies EU and rattles marketsItaly has the heaviest debt burden among big European Union economies, at 131 percent of gross domestic product. It is under pressure from the EU to rein in spending amid fears it could sow the seeds of a debt crisis in the euro zone. It marked a victory for the ruling parties over Economy Minister Giovanni Tria, an unaffiliated technocrat whom investors had considered a comparative fiscal conservative.


Source: Yahoo! News