Italy Fin Min Tria to lead the "last mile" of EU talks

Italy's Finance Minister Tria is all set to lead the "last mile" of budget talks with the European Union, having proposed yesterday a revised budget deficit target of 2.04 percent. 

Tria is scheduled to travel to Brussels today for budget talks. Also, the proposed deficit target of 2.04 percent could be approved by the European Union.

As a result, the spread between the 10-year Italian government bond yield and its German counterpart could continue to narrow in the near future.