Italian Bond Yields Jump After EU Projects Debt Limit Breach

In the report, the European Commission forecasts:

  • GDP growth of 1.2% next year, well below the government’s target of 1.5%

  • The decline in GDP has implications for the budget deficit, which is now seen widening to 2.9% next year and 3.1% the following year.

  • The government’s targeted 2.4% deficit for 2019 was flatly rejected by the commission.

source: zerohedge

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