Italy's Salvini appears to be on another collision course with EU over budget sums

The Italian government looks sets to another collision course with the European Union as the commission seemed set to impose sanctions on the country over its budget deficit, sending Italian bond yields sharply higher.

The announcement by the commission that a so-called excessive feficit procedure for Italy could eventually be warranted came as little surprise, Capital Economics in London said, but added that "investors appear to have been spooked".