Alternatives économiques , Paris – On 5 June the European Commission cleared the way for an excessive deficit procedure against Italy. This could lead to a fine of several billion euro being imposed on Italy. Above all, this new showdown risks restarting the general eurozone crisis just as Europe’s economy is slowing sharply. A slowdown which is partly caused by the vulnerability of Germany, Europe’s flagship economy, to the China-USA trade war and its dampening effect on the world economy. See more.