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IPFS News Link • Economy - International

EU Crisis: Italy launches sweeping reforms to revive economy

MILAN: Italian Prime Minister Mario Monti's government on Friday adopted a structural reform programme aimed at breathing new life into a debt-stricken economy, but which has already met heavy opposition.

Technocrat Monti's aim is to get Italy growing again after years of lagging its eurozone peers so it can eventually reduce a debt pile equal to 120 per cent of Gross Domestic Product -- double the 60-per cent EU ceiling.

"The cabinet today adopted a draft bill with a package of structural reforms for growth," Monti said after an eight-hour cabinet meeting.

The measures were aimed at boosting competition in several sectors and improving Italy's creaking infrastructure, he explained. 

1 Comments in Response to

Comment by Lucky Red
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Italy launches sweeping reforms to revive economy.  He he he...yeah, nothing like austerity to revive the economy or screwing for virginity or fighting wars for peace.