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25th Oct 2018

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EU commission sends back Italy's budget plan

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The European Commission on Tuesday took an unprecedented step and decided to send back Italy's budget plan for 2019 for reconsideration, as it says the proposed plan is breaking EU rules. It gave Italy's populist government three weeks to tweak its plans, although Rome has said before it would not back down. The commission is concerned that the planned spending boost would make Italy's high debt-to-GDP ratio unsustainable.

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