Italy strikes budget deal with EU

|By:, SA News Editor

Italy has reached an informal agreement with the European Commission over its budget plan, avoiding an EU disciplinary procedure and resolving a dispute that had vexed financial markets for months.

If confirmed, the deal could help restore investors' confidence in Italian bonds, reducing the Rome government's borrowing costs and limiting the losses domestic banks suffered have since this summer.

ETFs: EWI, HEWI, DBIT, FLIY

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