Berlusconi Rushes to Pass Debt Measures as Yields Soar
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Italy’s government presented lawmakers with the budget measures pledged to European Union allies, paving the way for parliamentary votes this week that will lead to Prime Minister Silvio Berlusconi’s resignation.
Finance Minister Giulio Tremonti delivered the legislation, to the Senate today in Rome in the form of an amendment to the budget law. The measures are aimed at convincing investors Italy can overhaul its economy to reduce the euro-region’s second-biggest debt. The Senate will vote on the plan on Nov. 11, and the Chamber of Deputies will seek to pass it by Nov. 13.