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Berlusconi Bows to Demands to Overhaul Italy Austerity Plan

Prime Minister Silvio Berlusconi agreed to overhaul the 45 billion-euro ($66 billion) austerity plan that persuaded the European Central Bank to support Italy’s bonds, dropping a tax on the highest earners and limiting funding cuts to regional governments.

“I’m very, very satisfied because the plan has been improved without changing the total value,” Berlusconi said in an interview with the “Studio Aperto” program on Mediaset SpA’s Italia 1 television. “Now the austerity package is more equal and sustainable.”