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Montevideo, June 1st 2023 - 19:36 UTC

Tag: David Hussey

  • Saturday, October 20th 2018 - 08:37 UTC

    Moody's cuts Italy's credit rating and EC warns over 2019 budget plans

    At the heart of the concerns is Italy's public debt, which amounts to 2.3 trillion Euros, or 131% of GDP, the highest rate in the Euro zone after Greece

    Moody's has cut Italy's credit rating by a notch over concerns about plans for larger deficits and the high public debt load as the country's populist government clashes with Brussels over its budget. The European Commission formally warned Italy late Thursday that its budget plans for 2019 are a serious concern, launching a high-stakes process that could see Rome hit with unprecedented sanctions for breaking commitments to Brussels.