December 17, 2018 / 11:09 AM / 3 months ago

Italy needs accord on budget as pressure on bonds unsustainable-Intesa CEO

MILAN, Dec 17 (Reuters) - Italy must reach an accord with the European Union over the budget, as market pressure on government bonds is no longer sustainable, the CEO of the country’s biggest commercial lender Intesa Sanpaolo said on Monday.

The government has agreed on the “numbers and contents” of the budget it will propose to Brussels in an effort to avoid disciplinary action over its plans to hike deficit spending next year, a spokeswoman for the League party said.. (Reporting by Gianluca Semeraro; writing by Giulio Piovaccari, editing by Francesca Landini)

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