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Deficit could spark another debt crisis that couldn t go the entire european union . in brussels welcome gale so the taliban say here s a homework a you have master says not good enough what happens now. well fifty officially the excessive deficit procedure has not been started to date but you could call it a first shot that has been fired from that sears tool box that the european union has if countries. do not follow the rulebook of fiscal discipline here and so what happens next basically is this is the assessment of the european commission that there is a serious risk of noncompliance now essentially i spare you the long story twice you member states within the next couple of weeks will have to agree to that observation and it is only then that within the next half year if you want ....
Insisting on higher deficit spending saying it s the only way to stimulate growth and bring down that the e.u. says italy needs to rein in spending to cut debt the european commission declaring today that the government is in breach of e.u. rules on that and inviting eurozone countries once more to examine its assessment in two weeks time if they agree it will launch a special procedure that could result in fines. if push comes to shove and brussels begins an excessive deficit procedure or e.d.p. then italy could face a fine as high as three point five billion euros brussels is insisting the southern european country it hears to e.u. budget rules and it s turning up the pressure. even more. ....
Going to bring in this so-called excessive deficit procedure you can do that but there has been no real taste about six months can happen in six months. on the ticker economist at lancaster university thank you so much for talking to w. thank you and turning to financial markets were a days long selloff hasn t stopped the markets and frankfurt are back in positive territory following gains in shanghai and hong kong there is however still concerned that one of the longest bull markets in history meaning a prolonged period of rising share prices could be coming to an end in new york the dow jones industrial average and the s. and p. five hundred have now lost all of this year s games. a stock market slide driven by some of the biggest names in tech take apple at the beginning of this month it was worth over a trillion dollars now it s dropped to eight hundred eighty billion one reason for the decline weaker than expected to man for the latest i phone models. not just for ....
A you had must assess not good enough what happens now. well fifty officially the excessive deficit procedure has not been started today but you could call it a first shot that has been fired from that sears toolbox that the european union has if countries. do not follow the rule book of fiscal discipline here and so what happens next basically is this is the assessment of the european commission that there is a serious risk of noncompliance now essentially i spare you the long story twice you member states it within the next couple of weeks we ll have to agree to that observation and it is only then that within the next half year if you want these fears penalties could come italy s way they still have time to react they will have to react with not just words but with action and that s a message for the interior minister salvini for instance who s been refusing the ....
Hacking attacks aimed at stealing american technology. ahead of the meeting between president trump and the chinese president. hacking efforts have increased in frequency and sophistication this year. china says the complaint lacks credibility. a top e.u. officials as italy s draft budget for next year does not comply with e.u. policy. the european commission may start what is called a monk and excessive deficit procedure over italy s spending plan. italy has been at odds with the new populist government. a senior israeli minister is threatening to kill the leader of the hamas movement ruling gaza. the housing minister, who was a former military commander in the gaza region says the hamas leader will not end his life in an old folks home if he does not behave. to some of the other stories beyond our borders tonight, we will be right back. ou have psor, little things can be a big deal. ....