Save Italy is the name of the economic recovery plan Italian Prime Minister Mario Monti.[1] The package of fiscal adjustments is worth €30 billion ($40 billion) over three years,[1] and includes tax increases, pension cuts, stronger protection against tax evasion, and an increase in the retirement age.[2] The reform package is meant to reduce debt, balance the budget and increase investor confidence.[2]
Monti, a technocrat who replaced Silvio Berlusconi as Prime Minister, said the plan was necessary to prevent the economy of Italy from becoming like Greece.[3]
References edit
- ^ a b "The new prime minister pleases markets but spooks the people". economist.com. December 10, 2011. Archived from the original on May 18, 2012. Retrieved April 5, 2012.
- ^ a b "Italy's Prime Minister $40 Billion 'Save Italy' Plan". National Public Radio. December 5, 2011. Archived from the original on March 4, 2016. Retrieved April 3, 2018.
- ^ Armitstead, Louise (5 December 2011). "'Save Italy' plan pulls bonds back from brink". telegraph.co.uk. Archived from the original on 26 June 2012. Retrieved 3 April 2018.
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