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BTP spreads widening sharply on BBG...........>

ITALY
ITALY: BTP spreads widening sharply on BBG headlines citing an unnamed official
that the European Commission is considering launching a disciplinary process
against Italy for failure to rein in debt.
- This process could begin on June 5 and could lead to a 0.2% of GDP - E3.5bln -
penalty, according to the article, which cited the official saying that the
decision has not been finalised.
- 10-Yr BTP spread to Germany widened by 5bps in the aftermath, last up 8.4bps
at 275.41bps (had dropped to 266.98bps earlier post-EU elections).

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