Il Messaggero reports
- Italian government to hold top-level talks later today on the budget
- Italy finance minister Tria said to seek a 1.9% target instead
Time is running out for Italy if they are to avoid EDP measures being taken against them by the European Commission. They are hoping to submit a new budget plan to the commission before this week's EU summit - which begins on Thursday - but there are still complications surrounding the final proposal.
Di Maio and Salvini are adamant that they won't go below 2.1% on the deficit target but Tria is still insisting to lower it below the 2.0% threshold so as to give it a chance for the commission to approve of the proposal.
Tick tock, tick tock. EUR/USD still trades near the highs now at 1.1436 as the dollar remains weak after Friday's jobs report. EUR/GBP is higher on the day as well at 0.8968 as the pound remains skittish ahead of tomorrow's meaningful Brexit vote.
