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The European Union’s Economic Commissioner Pierre Moscovici was out with some comments on the recent hot topic and said that he expects a strong, precise answer from Italy on the budget by 13 November.

Additional quotes:

   “¢   Dialogue can continue but expects an answer from Italy by then.
   “¢   Next steps depend on Italy’s budget response.
   “¢   Says that EU fiscal rules must be respected.
   “¢   Italy’s policy that entails higher public debt is not favourable to growth.
   “¢   Sanctions can be applied if there is no compromise on Italy’s budget.