Monti proposes $ 40 bn austerity measures

Note: This section contains information in English only.
Source: Bloomberg
© Scanpix/Reuters

On Sunday Italian premier Mario Monti's government anticipated emergency austerity measures valued at €30 bn. According to Italian Cabinet's statement, the package consists of proposals aimed at stimulating growth worth €10bn as well as €20bn of structural measures that should be implemented by the end of 2014. The decision comes ahead of European summit due December 9.

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