| Author (Person) | Dinmore, Guy, Sanderson, Rachel |
|---|---|
| Series Title | Financial Times |
| Series Details | 31.8.11 |
| Publication Date | 31/08/2011 |
| Content Type | News |
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Italian Prime Minister Silvio Berlusconi announced on the 30 August 2011 a decision to backtrack on his emergency austerity budget and scrap a proposed tax on the wealthy. There was a popular outcry to the announcement from trade unions and opposition parties, while commentators said it also risked market confusion and fresh confrontation with the European Central Bank. Italy received a stern warning from the head of the European Central Bank on the 3 September 2011 to stick to its austerity plan after it failed to pass key measures. Jean-Claude Trichet told a forum in northern Italy that sticking to the plan was 'absolutely decisive' to Italy's credit worthiness. |
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| Countries / Regions | Italy |
