The European Commission will ask Italy for clarifications over its 2020 draft bu...
FILE PHOTO: European Commissioner-designate for An Economy that Works for People Valdis Dombrovskis of Latvia attends his hearing before the European Parliament in Brussels, Belgium October 8, 2019. REUTERS/Francois Lenoir
Under EU rules, euro zone countries have to send in their draft budgets for the following year to the European Commission each year by Oct 15th for checks if they do not break EU rules. Last year only Italy, whose draft budget blatantly broke EU rules, was eventually asked to submit a new one, sparking a huge political clash with Rome and a surge in Italian bond yields.
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