Eurozone Nations Sharply Criticize Italian Spending Plan
Eurozone nations put Italy’s government under immediate pressure Monday over its budget proposals, which they said would pile more debt on Italians and skirt the rules of good fiscal housekeeping shared by the 19 nations using the euro currency. Italy’s populist government announced last week it would increase spending next year, pushing the budget deficit out to 2.4 percent of GDP, past a 1.6 percent limit the government had earlier said it would observe. While still below the EU limit of 3 percent, the move breaks with Italy’s recent efforts to reduce its debts and sets up a clash with …