EU's Dombrovskis: Tone with Italy has changed

European Commission vice president for the euro, Valdis Dombrovskis, comments

• Says that commission is in intense contact with Italy
• Says Italy's budget still needs quite substantial adjustments
• Says commission is open for dialogue with Italy

Slowly but steadily the more upbeat tones are building for Italy and the budget. But as mentioned before, make no mistake. This will continue to be an area to keep an eye out come next year as well. If Italy is unable to bring down its debt, expect more clashes between the populist government with European officials.