EU Commission: Italy’s 2018 Draft Budget Is At Risk Of Significant Deviation From Required Effort

A bit more pressure to the EURO to finish off the week?

• European Commission requests more information on 2018 draft budget plans from Belgium, France, Italy, Portugal, and Spain
• – EC says France’s 2018 structural budget adjustment is far below what is required by budget rules, is at risk of a significant deviation from requirements
• – Italy 2018 budget is at risk of significant deviation from required effort; preliminary assessment indicates tat Italy is not planning to comply with EU debt reduction rules in FY18.
• Italy may significantly miss structural budget adjustment target for 2017 also.
• The EURO loses the lost ground , crosses under pressure:
• EURJPY 131.95
• EURGBP 0.8845

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K-man

Fundamentalist market maker, turned all round market taker.
Philosophy: “Cycling is good for your health, overtrading is bad”

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