Mon, 10/01/2018 - 12:07
Italy's coalition government made up of the Five Star Movement and the League wants to add 27 billion euros to the public debt to finance the expansion of the welfare state. The money, which amounts to 2.4 percent of the GDP, would be used to fund basic security benefits for the poor and an early retirement scheme. EU Commissioner for Economic Affairs Pierre Moscovici called Italy's fresh debt plans "explosive". Commentators, too, warn of consequences that could rock the entire EU.