Home » Currency Note » Currency Note » Currency Note EUR » EUR: Italy points out France is also breaking the rules

Yesterday, the deputy prime minister of Italy, Luigi Di Maio, argued that the French government should also face disciplinary action from the EU, following Emmanuel Macron’s promise to increase wages and cut taxes. Di Maio said “If the deficit/GDP rules are valid for Italy, then I expect them to be valid for Macron.” The remarks allude to France’s 3.5% budget deficit proposal, when Italy has been criticised by the EU for submitting a deficit of 2.4% of GDP.

The German ZEW economic sentiment index increased by 6.6 points to -17.5 in December, which was far better than the -25 the markets had been expecting. However, while this news will be welcomed, the figure is clearly still in negative territory as the international trade dispute and Brexit continues to have an adverse effect. In the eurozone, the ZEW also beat expectations, by increasing to -21 from -22 the previous month.

Today we have the industrial production figures from the eurozone in October. On a monthly basis, the markets are expecting a figure of 0.2% growth from a 0.3% contraction in the previous period. Year-on-year, a figure of 0.7% is expected, a slight slip from the 0.9% posted the previous month.

Find out how we can help you

Let us know a little more about your upcoming currency exchange needs. We aim to take the uncertainty away by providing guidance on which services suit your individual requirements. You can then rest, assured your money is not at the mercy of the currency markets.

Protect against risk

Avoid losing money and protect against currencies moving against you.

Dedicated trader

Dedicated currency trader working with you to get the best value for your money.

Secure and efficient transfers

Secure, quick and efficient transfers. Authorised by the FCA.

  • We handle your data with care and only ever as outlined in our Privacy Policy.

Keep up to date

Get regular, jargon-free currency market updates delivered directly to your inbox.

  • We handle your data with care and only ever as outlined in our Privacy Policy.

Refer a friend or business

Recommend our services to your friends, family or colleagues and earn great rewards.

You have Successfully Subscribed!