European Commission Vice President Valdis Dombrovskis said in a press briefing that "with regret, that today we confirm our assessment that Italy's draft budget plan is in particularly serious non-compliance with the Council recommendation of July 13," Xinhua news agency reported.
"We conclude that the opening of a procedure for excessive deficit based on the debt is thus warranted," Dombrovskis added.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
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