"NATO and the United States should change their policy because the time when they dictate their conditions to the world has passed," Ahmadinejad said in a speech in Dushanbe, capital of the Central Asian republic of Tajikistan
In Unprecedented Clash, EU Rejects Italy's Budget, Paves Way For Sanctions
21 November, 2014
Yields on Italian government bonds fell on Wednesday morning as the euro climbed following reports that Italy's ruling coalition might be open to reviewing its budget plan. Though the Italian government swiftly denied the reports about being open to changes in its plan, the moves in the euro and yields persisted, as analysts said they didn't appear to be news driven.
"Despite already having very high debt, Italy is essentially planning significant additional spending, instead of the necessary budgetary prudence, and I want to say that the impact of this maneuver on growth will probably be negative from our point of view," Dombrovskis said.
"Today we are not opening the excessive deficit procedure. However, it is undeniable that we see this is the path which is opening up ahead of us," EU Economic and Monetary Commissioner Pierre Moscovici told reporters in Brussels. "It is now up to the member states to give their feelings and their views on the basis of our report over the coming two weeks."
"To be quite frank, I have no reason to believe that they would disagree with what the commission has done by way of analysis," Moscovici said.
"This procedure will take several months, but stands to keep (government bonds) and the Italian banking sector under pressure. Favor euro underperformance in Europe and probably further choppy euro-dollar trading in a $1.1350-$1.1450 range," ING Bank analysts told clients.