Italy approves 25 billion euro austerity plan
Italy approves 25 billion euro austerity plan
FRANKFURT (MarketWatch) — Italy’s lower house of parliament approved on Thursday a fiscal consolidation package totalling 25 billion euros ($32.7 billion) for 2011 and 2012, according to media reports. In response, Standard & Poor’s Ratings Services said that Italy’s sovereign credit ratings are supported by the austerity program. The package focuses on a sharp reduction in spending by local …
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