Government: Italian Government and Budget Deficit

government: The Italian government on Thursday targeted a budget deficit of 2.4 per cent of gross domestic product GDP for the next three years, marking a victory for party chiefs over economy minister Giovanni Tria, an unaffiliated technocrat, according to Nine News Australia. The deficit, though within the prescribed EU limit of three per cent of GDP, is a concern for investors who fear the anti-establishment government is not committed to tackling its huge debt load. To improve your experience update it here News World Italy budget worries hit European markets9 52pm Sep 28, government bonds, European stock markets and the euro have been hit hard after Rome agreed to set a higher than expected budget deficit target that could put it on a collision course with Brussels. Italy's debt-to-GDP ratio stands at about 130 per cent, the highest in the euro zone behind Greece. Shares in Italian banks were down 7.5 per cent. European shares fell 0.8 per cent, with shares in Italian banks - whose big sovereign bond portfolios make them sensitive to political risk - bearing the brunt of selling pressure. (news.financializer.com). As reported in the news.