Don't miss

Replay


LATEST SHOWS

EYE ON AFRICA

South African President Zuma advised to pay $510,000 for home upgrades

Read more

MEDIAWATCH

Post-Referendum Racism

Read more

THE DEBATE

Messy Divorce: EU, UK scramble after Brexit vote (part 1)

Read more

THE DEBATE

Messy Divorce: EU, UK scramble after Brexit vote (part 2)

Read more

THE OBSERVERS

Introducing "Observers take action"!

Read more

TALKING EUROPE

UK votes to leave the EU: What now?

Read more

ENCORE!

Music show: Metronomy, Celine Dion, Snoop Dogg and Jazz

Read more

FOCUS

Drug dealers of hope: Activists fight for access to life-saving Hepatitis C cure

Read more

THE INTERVIEW

Panama Papers scandal: 'This is a real crime'

Read more

Europe

Italian government backs €24 billion austerity package

Text by News Wires

Latest update : 2010-05-25

The government of Prime Minister Silvio Berlusconi (pictured) has approved a legal decree enforcing budget cuts worth 24 billion euros in a bid to reduce the public deficit from last year's 5.3% of gross domestic product to 2.7% in 2012.

AFP- The Italian government approved Tuesday austerity measures worth 24 billion euros for 2011-2012 aimed at stabilising the public finances, a government source told AFP.
   
"The legal decree has been approved," the source said at the end of a cabinet meeting, adding that the measures, made up of spending cuts and revenue increases, amounted to a total 24 billion euros (25.9 billion dollars).
   
The measures are supposed to help the government cut the public deficit from 5.3 percent of gross domestic product in 2009 to 2.7 percent in 2012, bringing Italy into line with an EU limit of three percent.
 

Date created : 2010-05-25

  • SPAIN

    Zapatero unveils fresh budget cuts

    Read more

  • FRANCE

    'No austerity plan', Sarkozy tells unions

    Read more

COMMENT(S)