Italy Senate Vote to Make Way for Government Led by Monti
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Italy’s Senate will vote on debt-reduction measures today in an attempt to shore up investor confidence and pave the way for a new government that may be led by former European Union Competition Commissioner Mario Monti.
The Senate will vote on a package of measures promised to the European Union aimed at boosting growth and cutting Italy’s debt of 1.9 trillion euros ($2.6 trillion), the world’s fourth biggest. Lawmakers rushed to pass the measures after Prime Minister Silvio Berlusconi’s parliamentary majority unraveled this week, leading bond yields to surge to euro-era records.