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budget rules

EU slams Italy’s ‘unprecedented’ deviation from budget rules

BRUSSELS: The European Commission on Thursday formally warned Italy that its budget plans for 2019 are a serious concern for Europe and an unprecedented deviation of EU rules. Italy's plans to increase spending instead of cutting budgets "are unprecedented in the history of the Stability and Growth Pact," the EU's top economic affairs officials wrote in a letter to Rome, referring to the bloc's rules on public spending. In the letter, Commission Vice President Valdis Dombrovskis and Commissioner Pierre Moscovici said…