The European Commission did not accept the draft state budget for next year revised by the Italian Cabinet of Ministers. Brussels has already announced that it will impose billions in fines as sanctions on Rome. Their sum is not called yet.. At the same time, the EU fears the collapse of the organization because of hard-nosed Italians. As noted by officials in the European Union, this step is associated with "exceeding the agreed deficit parameters," according to CNBC. According to EU regulations, national debt should not exceed 60% of GDP.. However, the Italian government has put in the draft budget a national debt of € 2.3 trillion, which is 130% of GDP.. According to the EC Vice-President Valdis Dombrovskis, Rome’s budget plan may in the future have a tough impact on Italians.. “We expect a further slowdown in the economy,” he said, adding that “it’s impossible to cure high levels of debt with more debt, this is a vulnerability that needs to be addressed.”. Recall that the first version of the budget, submitted by the Italian government, was rejected by Brussels in October;. he contradicted the union agreement on tax and budget policy. Recently, a single candidate for the post of EC head from the European People’s Party (EPP), Manfred Weber, said that Italy’s refusal to revise its budget could lead to the second major financial crisis in Greece and Spain, France24 reports. The German politician called the actions of Rome "one-sided" and "selfish", which would entail the "loss" of the entire European project. According to him, the European Commission has already demonstrated “greater flexibility” towards Italy, and the time has come when its new Euro-skeptic government should follow the rules of the European Union..