Italy's government was put on notice Wednesday that it may be sanctioned by the European Union for not getting the country's debt levels down.
In a report on Italy's debt, the executive European Commission urged Rome to take more cost-saving measures, worth up to 0.2 percent of its annual GDP. That's unlikely to go down well in the center-left government as it faces the possibility of elections this year or next.
"The Commission is not trying to create a storm, it's trying to guide the ship safely into harbor," said Pierre Moscovici, the commissioner responsible for economic and financial matters.
Since the EU's debt crisis, countries have committed to hit...