Fri, 06 Jul 2012 15:34:43 GMT
Monti Cabinet plans $32 billion cuts in spending
Mario
Monti, the Prime Minister of Italy, approved EUR26 bln spending cut to
diminish the government`s expenditures' size and try to postpone destructive 2% point
sales tax rise. Monti aims to calm down soaring bond yields and assure
investors in his ability to meet deficit goals. The plan is to cut
spending by EUR4.5b this year, EUR10b next year and