European Commission says Greece, Italy, Cyprus experiencing 'excessive economic imbalances'

European Commission issues a statement

• Says 13 EU countries are experiencing economic imbalances
• Of note, Greece, Italy, Cyprus are experiencing 'excessive' economic imbalances
• Says that it sees no improvement in Italy's debt in the coming years
• Says Italy's budget doesn't do enough for potential growth

This is the report that was noted last week here. Basically, it's another jab at Italy's government and budget plans if you look at it. The other ten countries said to be experiencing economic imbalances are Germany, Spain, France, Croatia, Ireland, Netherlands, Portugal, Romania, Bulgaria, and Sweden.