October 1, 2018 / 2:23 PM / 2 years ago

EU's Dombrovskis says initial view of Italy budget is that breaches EU rules

LUXEMBOURG (Reuters) - The Vice President of the European Commission Valdis Dombrovskis said on Monday the EU executive would only give a formal assessment of Italy’s budget plans after it submitted it in mid-October, but its initial view was that it breaks EU rules.

“Our assessment so far from what is currently emerging is that this is not compatible with the Stability and Growth Pact,” he told reporters before a meeting of euro zone finance ministers in Luxembourg, repeating what he said on Friday at a conference in Riga.

Reporting by Philip Blenkinsop; editing by Francesco Guarascio

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