The Italian national flag flies from the Quirinale palace, the office of Italy’s president, in Rome, Italy. (Photographer: Alessia Pierdomenico/Bloomberg)  

Italy Risks $4 Billion EU Penalty for Failing to Curb Debt

(Bloomberg) -- The European Commission is considering proposing a disciplinary procedure for Italy next week over its failure to rein in debt, which could pave the way for a 3.5 billion-euro ($4 bi...