Eurozone ministers say Italy must reduce debt - Reuters

Omkar Godbole FXStreet Contributor

Eurozone finance ministers said on Tuesday Italy's draft 2019 budget was violating European Union (EU) rules and so Rome should amend it as asked by the European Commission (EC), according to Reuters.

"We support the Commission assessment and recommend Italy to take the necessary measures to be compliant with the SGP. We also support the ongoing dialogue between the Commission and the Italian authorities," the ministers said in a statement.

Italy currently has the second highest debt in Europe at 133 percent of GDP and wants to spend more.

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Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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