Don't miss

Replay


LATEST SHOWS

EYE ON AFRICA

President Robert Mugabe emerges from house arrest

Read more

MEDIAWATCH

Harassment and hypocrisy in Washington

Read more

THE WORLD THIS WEEK

Military pressures Robert Mugabe to step down, Macron mediates Lebanon crisis

Read more

FRANCE IN FOCUS

France raises a glass to tourism

Read more

FOCUS

France's newest political party accused of 'old' methods

Read more

#THE 51%

Hear me roar: The growing economic power of older women

Read more

#TECH 24

The future of surgery

Read more

DOWN TO EARTH

The tiny parasite threatening your salmon sushi

Read more

ENCORE!

Director Joachim Trier: True horror is a 'lack of self-acceptance'

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)