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Monday, September 5, 2011

Italy austerity plan moves to Senate as markets press - Yahoo! Singapore Finance

Italy austerity plan moves to Senate as markets press - Yahoo! Singapore Finance
Posted by RAYLOKE at 4:26 PM

1 comment:

  1. RAYLOKESeptember 5, 2011 at 4:29 PM

    PERSISTENCY does have its NEGATIVE EFFECTS that must need be SIGNIFIED IN ASTOUNDING ABUNDANCE. ...President Giorgio Napolitano issued a stark warning that urgent action was needed to restore trust in public finances.

    Italy's largest trade union, the CGIL, has called a general strike against the measures and plans rallies across the country on Tuesday, underlining the air of emergency in the euro zone's third largest economy.

    In a statement after markets closed, Napolitano said a selloff of Italian government bonds on Monday had sent an "alarming signal" that markets had lost faith in Italy.

    "It is a sign of the persistent difficulty in regaining trust as is urgently and indispensably required," he said, adding that he urged all parties not to block measures needed to restore credibility.

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