Monti austerity measures may cause Italian anger

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Source: Bloomberg
© Scanpix/Reuters

Premier Mario Monti proposed austerity plan on Sunday requiring Italians to sacrifice €30 bn in order to reduce country's burden. Monti's plan includes linking pension to total employee contributions instead of last salary, revise property taxes and impose taxes on luxury goods. Monti's plan is the third attempt to introduce debt reduction since July and is expected to face resistance both from Parliament and Italian citizens.

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