European stock markets are falling to Italy with penalty news

European stock markets are falling to Italy with penalty news

European stock markets, which started the week following the elections in Europe, closed the day with the concern of budget in Italy yesterday.

Between the EU Commission and the Italian government there was a deep disagreement over the budget in the last quarter of 2018, with Italy taking into account the unemployment and social rights in the country and the budget set by the commission. Following the disagreement, the EU Commission budget was agreed, but the commission is considering punishing Italy for exceeding the budget.

According to the latest reports, the EU Commission will pay 3.5 billion euros to Italy in June. After the European stock markets fell yesterday, the euro weakened.

On the other hand, the US Dollar Index rose to 98.0 in the trade wars between the US and China, and the strong dollar weak euro and the EUR / USD dropped to 1.1152 today.

Today, the European stock exchanges in Italy after the news today, the DAX 1.20% FTSE 100 1.05% and IBEX 35 fell 1.55%.