Italy, EU: Brussels Escalates Its Fiscal Fight With Rome

The budget battle between Italy and the European Union is heating up, and the European Commission has decided to escalate its dispute with Italy over Rome's 2019 budget. On Nov. 21, the commission issued a report saying that Italy's fiscal plans -- which include tax cuts and spending hikes -- break EU rules and will not make the country's debt more sustainable. As a result, the commission suggested an Excessive Deficit Procedure (EDF), which could eventually lead to financial sanctions against Italy....