Don't miss

Replay


LATEST SHOWS

FRANCE IN FOCUS

French education: Reinventing the idea of school

Read more

FRENCH CONNECTIONS

Frogs legs and brains? The French food hard to stomach

Read more

#TECH 24

Station F: Putting Paris on the global tech map

Read more

THE INTERVIEW

Davos 2017: 'I believe in the power of entrepreneurs to change the world'

Read more

#THE 51%

Equality in the boardroom: French law requires large firms to have 40% women on boards

Read more

FASHION

Men's fashion: Winter 2017/2018 collections shake up gender barriers

Read more

ENCORE!

Turkish writer Aslı Erdoğan speaks out about her time behind bars

Read more

REVISITED

Video: Threat of economic crisis still looms in Zimbabwe

Read more

BUSINESS DAILY

DAVOS 2017: Has the bubble burst?

Read more

Europe

Govt passes 'golden rule' balanced budget amendment

Text by News Wires

Latest update : 2011-09-08

The government of Silvio Berlusconi (pictured) on Thursday approved a "golden rule" proposal to codify the government's obligation to pass balanced budgets in the country’s constitution, the latest effort to tackle a debt crisis.

AP - Italy’s government is pressing ahead with a proposed constitutional amendment calling for a balanced budget, a day after the Senate approved a much-revised austerity plan to calm financial markets.

The Cabinet on Thursday signed off on the proposed amendment. It must be approved by a two-thirds majority in each house of Parliament.

Economy Minister Giulio Tremonti called for a “constructive and quick” parliamentary discussion and predicted it would ultimately pass.

The Cabinet met a day after the Senate approved a separate austerity package aimed at reducing the deficit by more than €54 billion ($70 billion) over three years through budget cuts, tax hikes and changes to Italy’s costly pension system.
 

Date created : 2011-09-08

  • ITALY

    Italian senate passes unpopular austerity plan

    Read more

  • SPAIN

    Spain passes 'golden rule' reform to fend off debt crisis

    Read more

  • FRANCE

    Parliament approves French participation in EU's Greek bailout

    Read more

COMMENT(S)