Sabato, 20 Ottobre 2018

'No need for more austerity' says Monti


(ANSA) - Rome, July 20 - Premier Mario Monti on Friday
repeated that Italy would not require further austerity measures
to fix the country's finances.
"We have no intention of implementing new austerity cuts,"
said Monti. "We are on track to fulfill our budget goals and
thus there is no need for new measures".
Shortly after replacing Silvio Berlusconi's cabinet amid a
peak in the debt crisis in November, Monti's administration of
technocrats implemented an emergency 30-billion-euro austerity
package to restore public finances to health.
In addition, the government is currently trying to push
through a hotly contested 26-billion-euro package of
public-spending cuts and sell-offs, which Monti says falls under
the category of structural reform and not austerity.
Known as the "spending review", the latest round of
anti-crisis measures has sparked the ire of Italy's labor
unions, which have called the cuts to the public sector "a meat
cleaver" and have vowed to strike in September if major changes
are not made.
The measure, which will go before the House at the end of
July, was approved by the cabinet earlier this month.

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