ENEWS 1:39 Video
Welfare Minister Elsa Fornero broke into tears at a news conference about planned austerity changes...to save E20bn...eliminate Italy's budget deficit by 2013...and remove bond market pressures.
New technocrat PM 'Super' Mario Monti had suggested the measures be called 'Save Italy'.
According to AFP...new polls show a majority backs Monti's plans...though 70% said they are 'unfair'.
In describing the many changes...Fornero was unable to finish and use the word 'sacrifice.'
Italy will raise the minimum retirement age for women and men to equity at 66 by 2018...and abandon annual inflation adjustments for many pensions...and base them on number of years not last salary.
There will also be a crackdown on tax evasion...an unpopular property tax will be re-introduced...and the VAT will be raised by 2 pts to 23% in September.
Popular Posts
- POLAND: Warsaw Lauds LOT Pilot Wrona For Safe Crash Landing.
- SERBIA / LIBYA : Are Serbian Mercenary Pilots Bombing Protestors In Tripoli?
- HONDURAS : 4 Nov. UPDATE: 176 Police Arrested For Corruption; Lobo Sacks His Top Cops...Sends Troops Into Sula, Tegucigalpa.
- COLOMBIA: Corrupt Police Aided Bogota's Fake Torture Brothel.
- PERU: Chaos Reigns In Lima's Streets With Unregulated Taxis And Ancient Buses.
- CHILE / CANADA : Court Suspends Barrick Gold Pascua Lama Mine Production.
- SERBIA / KOSOVO / EU : President Nikolic Talks Tough About Pristina.
- ITALY / EUROZONE : New Greek Crisis Delays Berlusconi's Love Songs CD Release.
- MEXICO : Zetas Founder/ Leader "Lucky" Hernandez Lechuga Captured In Veracruz.
- USA : 07 May UPDATE: Famous Fat Cat Meow...Dies On Diet.