Brussels will advise Italy to settle its budget deficit by 2007, getting the country off the hook from eurozone pact sanctions for the time being, the Financial Times reveals.
The European Commissioner for monetary issues Joaquin Almunia is to officially announce on Wednesday (29 June) that the country is in breach of the revised stability and growth pact and must fix its spending in two years, according to the paper.
The deadline should be long enough to keep Silvio Berlusconi's...
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