Friday, December 4, 2020

Tag: as Showdown with the EU Intensifies

Italy’s Debt Crisis Flares Up, Banks Get Hit, as Showdown with the EU Intensifies

by Wolf Richter, Wolf Street:

Who will blink first?

A serious showdown is brewing in the Eurozone as Italy’s anti-establishment coalition government takes on the EU establishment in a struggle that could have major ramifications for Europe’s monetary union. The cause of the discord is the Italian government’s plan to expand Italy’s budget for 2019, in contravention of previous budget agreements with Brussels.