France & Italy Budget plans risk breaching EU rules.

Following the submission of euro zone countries' budgets to Brussels for review last week, France and Italy will likely hear back today that their budget plans risk breaching EU rules, FT reports. France is required to get its deficit back under the EU ceiling of 3% of economic output by next year but its plan ignored that commitment. Italy must modify its structural budget into balance by 2015, as its public debt currently sits at 135% of GDP, far above the EU ceiling of 60%.