Finance ministers across the eurozone are to discuss Italy’s budget crisis and the potential use of an Excessive Debt Procedure if Rome fails to work on its budget deficit. Penalties could include a fine of as much as $2 billion.
Brexit continues – unsurprisingly – to be a worry for the markets, and all eyes will be on the UK today as the first ballot takes place for its leadership race.
German inflation was confirmed to be down year-on-year, from 2% to 1.4%. It had little impact on the markets, as the expectations had been priced in. There are no further economic releases of note today or tomorrow, so focus really will be on the political element.
