Comments by the European Commission via Bloomberg
- Said to see Italy breaching its debt reduction commitment
- EDP against Italy is warranted
- Sees risk of negative impact on growth from Italy's budget
Very much what you'd expect and the euro has now recovered from the earlier dip from the headline report. But as mentioned here, don't expect this issue to go away any time soon and things could still very well turn even uglier moving forward.
EUR/USD at 1.1393 and EUR/GBP at 0.8910 currently.
