Reported 8 months ago
France and Italy have been reprimanded by the European Union for exceeding budget deficits, raising concerns in the market. The European Commission's announcement includes seven nations facing censure for breaching the 3% limit, with France and Italy's high debt ratios being a major focus. The situation could potentially lead to fines and prompt a new Excessive Deficit Procedure. The reprimand comes as France prepares for legislative elections, adding uncertainty to the economic outlook and causing market volatility.
Source: YAHOO