The European Union is sounding the alarm on Italy's massive debt pile and warning that the country must take action soon or risk being declared in breach of EU rules.
The European Commission released its annual economic and social analysis of EU Member States on Wednesday and Italy was singled out for special treatment, with the Commission threatening the eurozone's third largest economy with a potential fine.
Italy risks being declared in official breach of EU budget rules, opening the path to a potential fine. As it stands, government debt in the country is set to hit 133.3% of its GDP by the end of the year, up from 132.8% last
The European Commission released its annual economic and social analysis of EU Member States on Wednesday and Italy was singled out for special treatment, with the Commission threatening the eurozone's third largest economy with a potential fine.
Italy risks being declared in official breach of EU budget rules, opening the path to a potential fine. As it stands, government debt in the country is set to hit 133.3% of its GDP by the end of the year, up from 132.8% last
