EU and Italy reach an agreement on budget

Baku. 19 December. REPORT.AZ / “European Union and Italy have reached an agreement on the country's budget for 2019, which means that the European Commission (EC) will not launch a sanctions procedure against Rome”, Commissioner for Euro and Social Dialogue Valdis Dombrovskis said.

Report informs citing TASS that he spoke at a press conference in Brussels.

"Let's be clear: the solution is not ideal. But it avoids opening the excessive deficit procedure at this stage," he added, referring to a process that he said 'can result in major fines for a member country'.

Earlier it was reported that the European Union intends to fine Italy under the sanctions for refusing to introduce amendments to the budget.