Italy Senate OKs PM's austerity plan

Thu Sep 8, 2011

The Italian Senate has approved Prime Minister Silvio Berlusconi's controversial austerity package aimed at reducing the country's soaring budget deficit.

The Senate made the decision late on Wednesday despite day-long national strikes against the measure.

A total of 165 Italian senators voted in favor of the plan and 141 against it, with three abstentions, following a day of debates.

Officials say the plan is necessary because it prevents Italy from falling deeper into the eurozone debt crisis.

The package will now go to Italy's lower chamber where a vote on it is expected for final approval on Saturday.

Earlier, tens of thousands of Italians took to the streets to voice their anger over the austerity measures, which include tax hikes as well as deep reductions in public services.

The EUR 54-billion package of spending cuts and tax-hike revenues is meant to help the debt-ridden eurozone country balance its budget deficit by 2013.

The package was originally worth EUR 45.5 billion, but was further increased due to market concerns.

Source: PressTV.
Link: http://www.presstv.com/detail/198015.html.