Matteo Salvini: Leader Marine and Basis Points

matteo salvini: Italian bond yields jumped by as much as 30 basis points to the highest levels since early 2014 after the Italian deputy prime minister, Matteo Salvini, attacked the European commission president, Jean-Claude Juncker, and the economics commissioner, Pierre Moscovici, as enemies of Europe, according to The Guardian. Speaking at a news conference with the French far-right leader Marine Le Pen, he said the country would not cave to pressure from the financial markets or retreat from its plan for government spending. Italian borrowing costs jumped and the euro dropped on foreign exchanges as the war of words between Rome and Brussels escalated, while shares on Wall Street and other major international markets declined amid growing concerns over the US-China trade war. We are against the enemies of Europe Juncker and Moscovici shut away in the Brussels bunker, he said. Rome is to submit its draft budget to the commission, the EU's executive arm, which will check whether it is in line with EU rules by 15 October. Brussels has told Italy it is concerned over the plan because it would mean the nation running a larger budget deficit the gap between income from taxes and government spending than previously planned for the next three years. (news.financializer.com). As reported in the news.