December 19, 2018 / 11:32 AM / a month ago

EU reaches deal with Italy over 2019 budget

BRUSSELS, Dec 19 (Reuters) - The European Commission reached a deal with Italy over the country’s 2019 budget that is not ideal, but which stops EU disciplinary steps against Rome over the earlier planned excessive borrowing, Commission Vice President Valdis Dombrovskis said.

“The solution on the table is not ideal. It does not yet deliver a long-term solution to Italy’s economic problems. But it allows us to avoid an excessive deficit procedure at this stage,” Dombrovskis told a news conference in Brussels. (Reporting by Jan Strupczewski and Francesco Guarascio)

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