Italian Prime Minister Silvio Berlusconi announced a spate of tax hikes and spending cuts on Friday as part of a tough austerity package worth a total 45.5 billion euros in a bid to balance the country’s budget by 2013.
REUTERS - Prime Minister Silvio Berlusconi announced a painful mix of tax increases and spending cuts on Friday to meet European Central Bank demands for action on shoring up Italy’s strained public finances.
Italians feel robbed by the new austerity measures
Before the announcement, Italy’s biggest unions had pledged to oppose measures which hurt ordinary Italians including pensioners.
Date created : 2011-08-12