Don't miss

Replay


LATEST SHOWS

EYE ON AFRICA

Nkandla scandal : Court still to rule on Zuma's home upgrade

Read more

MEDIAWATCH

French MPs slammed for staying away from emergency powers reform vote

Read more

ENCORE!

Irish writer Rob Doyle blends philosophy and humour in 'This is the Ritual'

Read more

FOCUS

Morocco sees drop in tourist numbers

Read more

REPORTERS

Video: Welcome aboard the West African Express

Read more

FRANCE IN FOCUS

Migrant crisis: Is Calais the dead end on the migrant trail?

Read more

IN THE PAPERS

'There’s a special place in hell for women who don’t help each other'

Read more

IN THE PAPERS

Is there a future for French farming?

Read more

MEDIAWATCH

Merkel's Migrant Conundrum

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)