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Analysts at Danske Bank note that tensions are continuing in Europe over Italy’s budget projections.

Key Quotes

“Yesterday, League Leader Salvini signalled no willingness to back down from the government’s expansionary fiscal stance, saying that speculators are ‘wasting time and wasting money because we will not go back’.”

“We think the uncompromising stances from both the EU and the Italian government mean that market sentiment could get worse before it gets better.”