EU Fails To Secure Italian Vote On Korea FT Deal

Law360, New York (September 10, 2010, 3:20 PM EDT) -- The European Union closed for business Friday without having secured Italy's blessing to implement a recently negotiated free trade agreement with South Korea that would eliminate more than $2.3 billion in tariffs between the two economic powerhouses, among other economic benefits.

The deal, inked in October, requires ratification from all 27 EU member states. Italy has yet to sign on, expressing concern over how the agreement would impact its automobile industry.

There were conflicting reports Friday about whether Italy could be enticed to put its stamp...
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