UPDATE 1-Italy avoids EU sanction threat over its debt, for now <!-- no image --> <div>The European Commission dropped its threat of disciplinary action against Italy on Wednesday after Rome took action to bring its growing debt into line with the bloc's fiscal rules.<div class="feedflare"> <a href="http://feeds.reuters.com/~ff/reuters/UKBankingFinancial?a=SwAASTdz70o:z8sPNfXCHss:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/reuters/UKBankingFinancial?d=yIl2AUoC8zA" border="0"></a> <a href="http://feeds.reuters.com/~ff/reuters/UKBankingFinancial?a=SwAASTdz70o:z8sPNfXCHss:V_sGLiPBpWU"><img src="http://feeds.feedburner.com/~ff/reuters/UKBankingFinancial?i=SwAASTdz70o:z8sPNfXCHss:V_sGLiPBpWU" border="0"></a> <a href="http://feeds.reuters.com/~ff/reuters/UKBankingFinancial?a=SwAASTdz70o:z8sPNfXCHss:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/reuters/UKBankingFinancial?i=SwAASTdz70o:z8sPNfXCHss:F7zBnMyn0Lo" border="0"></a> </div><img src="http://feeds.feedburner.com/~r/reuters/UKBankingFinancial/~4/SwAASTdz70o" height="1" width="1" alt=""></div> Posted by Reuters