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Italy's Parliament approves revised budget

After the Senate has now also approved by the Italian chamber of deputies, the revised budget plan in a vote of confidence. The country escapes so an EU excessive deficit procedure.

The Italian chamber of deputies has approved the revised budget of the government. In a vote of 327 members of the coalition of the populist Five-star movement and the right to languages outside party Lega the trust, 228 voted against the draft budget, one Deputy abstained.

The coalition government in Rome was revised after several weeks of negotiations with the EU-Commission in its original draft budget to prevent a deficit-criminal proceedings and billions of dollars in fines. The EU Commission had rejected the original budget plans in Italy in October. The reasons for the initial rejection of the draft Budget of a member state that he was in breach of European Union budget rules.

Several members of the Democratic party protested against the budget.

billion met

threatened announced in the face of an imminent excessive deficit procedure, the billion-dollar fines for Rome, or the deletion of EU assistance could have lead, had to compromise the Italian government in its budget plans for the coming year.

The Senate approved the new draft budget already in the last Week. The Budget of 2019, provides for a borrowing of 2.04 of the gross domestic product - instead of the originally planned 2.4 percent. Economic growth to 2019 is forecast therefore with a 1.0 percent instead of 1.5 percent.

The extremely high national debt

Italy has one of the highest national debts in the world. In Rome there is a mountain of debt of about 2.3 trillion euros piles up. That's the equivalent of more than 130 percent of economic output. In the Euro-zone to a maximum of 60 per cent are allowed. A state is, he needs to get in the longer term, its debt in the handle.

In the financial markets of Italy had triggered the budget plans in recent months considerable anxiety. In the case of a collapse of the Italian public finances of the Euro-zone and Germany would have threatened serious consequences.

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