Italy economy

The Prime Minister of Italy, Mario Monti, has said on Monday (5) to the Italian parliament that his cabinet approved the plan on Sunday (4) and aims to bring the country out of crisis. Monti will make the defense of the austerity measures included in the plan and reinforce the message he gave to disclose the measures. "If you do not approve, Italy will collapse like Greece."

Of the 30 billion euros in the approved package, 20 billion euros will be used as a structural measure to stimulate the economy between 2012 and 2013 and 10 billion will be put back into the economy through measures to promote growth, including cuts in labor costs and incentives to integrate more women and young people in the labor market.

The plan was presented one day before the meeting to be held between the leaders of France and Germany to close an agreement to increase financial integration in the euro area, which will be presented at a European summit on Friday (9). At the meeting this Sunday, Monti reiterated on the severity of the crisis and that Italy will make a "multitude of sacrifices" to solve the problem. According to the prime minister, Italy's problems are mainly the public deficit of 1.9 billion euros and marked by decades of political short-termism in the period preceding the adoption of the euro

My opinion about the story:

I think that Europe it is in a very complicate moment with their economy, and at the same time they have the example with what happened with Greece and they want to make sure that that does not happen with them, so at this moment they are probably taken the most extremely decisions to make sure that the same do not happen with them. But I think the others European’s countries should be alert because anything that   Italy do will influence in their own economy.