EU’s Moscovici says sanctions possible if no deal with Italy on budget

BRUSSELS (Reuters) – The European Union could impose sanctions on Italy if no deal is reached on the country’s budget for next year, the bloc’s commissioner for economic affairs said on Tuesday.

“I want a dialogue, but sanctions can be finally applied if we do not reach an agreement,” Pierre Moscovici told reporters on Tuesday on the sidelines of a meeting of EU finance ministers.

Rome’s budget draft is considered by Brussels to be in breach of EU fiscal rules.

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