November 20, 2018 / 12:01 PM / a year ago

Market tensions to ease after EU decision over Italy budget - Di Maio

FILE PHOTO: Italian Deputy Prime Minister Luigi Di Maio speaks during a news conference at Chigi Palace in Rome, Italy, October 20 2018. REUTERS/Remo Casilli/File Photo

ROME (Reuters) - Market tensions will ease once the European Commission takes a decision over Italy’s 2019 budget, Deputy Prime Minister Di Maio said on Tuesday.

Investors have been shedding Italian debt amid a row between Rome and the Commission over the government’s expansionary 2019 budget.

Brussels is expected to release a report on Italy’s debt on Wednesday, which could be the first step towards a disciplinary procedure that could eventually lead to fines on Rome.

Di Maio said that regardless of the decision the Commission might take, Italy is a “solid” country.

Reporting by Davide Barbuscia

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