Italy president backs austerity plan

June 23, 2010 - 0:0

Italian President Giorgio Napolitano has urged all political and state organizations to back fiscal austerity measures amid public outcry over cuts in spending budget.

Gripped by a massive budget deficit, the Italian government plans to cut EUR 24 billion (USD 25.9 billion) from its 2011-2012 public spending under an austerity package to be presented to the parliament for approval at the end of July.
The Italian president, meanwhile, said he hoped trade unions and all political and the state organizations would abide by the new measures including cuts in wages.
“What this entails is demonstrating to the utmost a sense of common national responsibility,” which needs to be demonstrated “at this current, grave moment,” Napolitano was quoted by Xinhua as saying on Monday.
(Source: Press TV)
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