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Italy Would Face Greek Fate Without Austerity, Grilli Tells Sole

Italy would have ended up like Greece had the government not pushed through a 30 billion-euro ($39 billion) emergency budget, Deputy Finance Minister Vittorio Grilli told Il Sole 24 Ore in an interview published today.

Without the package, “our future was Greece,” Sole cited Grilli as saying. Prime Minister Mario Monti and Development Minister Corrado Passera “are now working on a package of measures” to spur economic growth, Grilli told the Milan-based newspaper.

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