a punishment for breaking the bloke's fiscal rules italy's populist government had promised to increase spending on the poor and to lower the retirement age the e.u. said the original budget but have raised the country's public debt beyond acceptable levels. the eurozone could see its first interest rate hike in the new year the first since two thousand and eleven that is but it probably won't happen until much later in the meantime the european central bank is weaning the block off stimulus winding down its most controversial measure its massive bond buying scheme proponents said it helped stabilize financial markets critics called it market manipulation. b.c.b. president mario draghi made the announcement mid december the european central bank want to buy bonds on the financial markets start in january. regarding known standard monetary policy measures are net purchases under the us it purchase program will end in december two thousand and eighteen the e.c.b.