Open

Coming up

Don't miss

Replay


LATEST SHOWS

REPORTERS

Argentina: The Kirchner era

Read more

AFRICA NEWS

Tunisia presidential elections: Final day of campaigning ahead of Sunday's vote

Read more

FRANCE IN FOCUS

Holiday season: celebrating a secular Christmas

Read more

#THE 51%

Are toys really us?

Read more

ENCORE!

Child brides, the people of Syria and New York’s homeless

Read more

FOCUS

Video: Pakistan in mourning after school massacre

Read more

AFRICA NEWS

Kenya: Security law approved despite disruptions in Parliament

Read more

DEBATE

Wrecked Rouble: Putin Defiant as Currency Tumbles (part 2)

Read more

DEBATE

Wrecked Rouble: Putin Defiant as Currency Tumbles (part 1)

Read more

Europe

Italian government backs €24 billion austerity package

Video by William EDWARDS , Carla WESTERHEIDE

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)