Monti Says Budget Changes Will Boost Fairness, Sway Investors
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Prime Minister Mario Monti said an agreement to ease pension cuts and a new property tax will make his emergency budget plan fairer, and its passage will convince investors Italy can slash the euro region’s second-biggest debt.
“We are confident that markets will react positively to the efforts Italy is making, maybe not tomorrow, but the reduction in borrowing costs that we anticipate in the coming months will help spur the economy,” Monti told a parliamentary committee in Rome last night.