Italy's Deficit Falls to 3.1% but EU Procedure Continues

Italy's 2025 deficit came in at 3.1%, but the country will remain under the EU's excessive deficit procedure until 2027. Prime Minister Meloni was reportedly infuriated that the Superbonus housing incentive prevented Italy from exiting the procedure. She criticized the situation as a "mockery" and said early GDP data are always underestimated, while also urging EU help. Meloni also reportedly told Economy Minister Giorgetti he was being too pessimistic.