A decree to “save Italy.” This is how Council President Mario Monti described it, explaining that this crisis could “jeopardize 60 years of sacrifices and 4 generations.” The set of measures amounts to nearly €20 billion net (€12bn saved and €8bn from new takings) in 2012-2014, but the “gross correction” amounts to more than €30 billion, €10bn being allocated to “expenses boosting growth, production and labor.”
The Council of Ministers, gathered yesterday September 4, after the meeting with the social partners, approved its first “emergency measures granting financial stability, growth and equity,” kicking off the “structural reform of the Italian economy.” These measures plan to achieve the pension reform, bringing retirement age up to 66 for men and 62 for women as early as 2012. (Ref. 110750)
A decree to “save Italy.” This is how Council President Mario Monti described it, explaining that this c
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