After coming to power on Wednesday, Mario Monti’s new government on Thursday made public its plan to bring in stringent reforms to turn around country’s economy. The highlights of the measures proposed by the new Italian PM are ¬– budget cut, revenue hike, change in labor law and pension system and bringing down tax evasion.
From what appears to be a major shift since ex Italian Premier Silvio Berlusconi’s departure, the present Italian government has made its priorities clear and its intention sincere. Italy is not afraid to take on the challenge posed by debt crisis. Mario Monti urged that how fast and successfully Italy can come out of debt crisis would also have a positive and significant bearing on ‘Euro’ and the Euro zone. For that Italy needs to act fast and push for sweeping changes. Monti, the ex- EU commissioner, said that he is counting on the European Union to lend support to Italy.
On Thursday's confidence vote, the Italian Prime Minister has got thumping victory from his Senate. He is set for another confidence vote on Friday.
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