Policy Briefs

S. Micossi: Commission rejection of Italian budget may be justified, but what comes next?

The European Commission has returned Italy’s Draft Budgetary Plan (DBP) to Rome with the request to provide a redraft more in line with European rules. By rejecting the DBP for “severe divergences” from ECOFIN’s July 13, 2018 recommendations, the Commission is taking an unprecedented step under the European Semester procedure.

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