EU WARNING to Italy: Dombrovskis warns of ‘SKY-HIGH interest rates’ with deficit budget

ITALY has been issued a fresh warning shot from the European Commission over its controversial spending plan, with Valdis Dombrovskis claiming the indebted nation could see itself confronted with “sky-high interest rates”. Rome has sparked a war of words with European Union chiefs over proposals for a deficit goal of 2.4 percent of GDP for 2019 – a figure that is three times the previous administration's target.

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