The Latest: Italy warned to revise its draft budget
MILAN (AP) – The Latest on Italy’s spat with the European Union over its budget (all times local):
The European Union’s presidency says Italy must change it draft budget because otherwise the country would only threaten its own financial health as well as that of its partners.
Prime Minister Sebastian Kurz of Austria, which holds the rotating EU presidency, said Friday that Italy reduce its spending plans because “we as the European Union are not prepared to take on this risk, these debts for Italy.”
The EU’s executive Commission, which must vet Italy’s 2019 draft budget, has already warned that the nation’s significantly higher deficit targets represent a deviation “unprecedented in the history” of EU budget rules.
Kurz said: “If one breaks these rules then this means that Italy is endangering itself but of course also is endangering others beyond that.”