thirteen on monday down over half a percent from friday s close markets are braced for a rollercoaster week as a standoff between roman brussels over at least fiscal plan for next year comes to a head the european commission rejected the plan last month warning the government in rome to drastically reduce its budget deficit target it s of the already has the second highest in the eurozone in relation to g.d.p. the commission gave rome until tuesday to present a new budget office disciplinary steps these are the government has so far insisted that any concession would be trade voters amount to political suicide well little earlier we spoke to german economies during stock that s the european central bank s former chief economist and we asked him what was likely to happen next. at a certain point in time there will be a show del the question is whether the italian government will hit the wall with the commission or other european institutions over the markets i personally expect
bringing women into politics if you want to call it like that with a pretty much of one party system but leaving that aside for one moment getting actually women out to take office in west germany west german old male traditions of networks continue to be the issue all right our chief political editor michaud krishna thank you very much. now our time to go to get ahead with business and the showdown between the e.u. and italy get hot is continuing to me and that s where the hugo the euro is hovering around seventeen months lows against the dollar investors are nervous at the uncertainty of the italian budget the currency was pinned under one dollar teen on monday down over half a percent from friday s close markets are braced for a roller coaster week as the start of between roman brussels over into this fiscal plan for next year comes to a head the european commission rejected the plan last month s warning of the government in rome to drastically reduce its budget deficit target is th
italian deputy prime minister. accuses you of pushing out rooms cost of borrowing by likening italy to greece that he s right in this particular spot. well i think the deficit surprised the markets and it surprised investors generally given what the finance minister have been speaking about in the weeks before when you have been speaking about potentially a one point six percent deficit you saw spreads come in the financial markets were rewarding what was deemed to be a conservative and reasonable budget deficit target the trouble is the budget deficit is two point four percent each of the next three years that is likely to actually push up debt to g.d.p. the reason that the finance minister and others are saying it s ok because there are groups assumptions is much higher than i think reality would be so all depends on how well it s lee does briefly italy is the second most indebted nation in the eurozone how much of a risk does it pose to the overall health of the current countries li