18 Nov '11, 4pm

Italy rushes to launch reforms ahead of EU talks

Italy rushes to launch reforms ahead of EU talks

ROME: Prime Minister Mario Monti, backed by strong support from parliament, rushed to firm up radical action to revitalise the economy and shield the eurozone on Friday, ahead of talks in Europe next week. Monti's government mustered support from an overwhelming majority in a confidence vote in the lower house on Friday, with 556 of the 617 deputies in attendance voting to back his game plan to tackle the debt crisis. He garnered equally big support in a Senate vote on Thursday, after unveiling bold measures to lift Italy out of the eurozone crisis, win EU support and contain market pressure. In his speeches, Monti announced a plan to balance Italy's crucial austerity measures with schemes to boost "growth and equity", including investing in women and the young as well as tackling unfair privileges. He said the first cabinet meeting will take place on Monday. The new premi...

Full article: http://www.channelnewsasia.com/stories/afp_world_business...

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