Monti to Lobby Parliament on 30 Billion-Euro Budget Plan
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Prime Minister Mario Monti will lobby parliament to support a 30 billion-euro ($40 billion) package of austerity and growth measures to trim the euro-region’s second-biggest debt and prevent Italy from sparking the euro’s breakup.
Monti presents the plan to the Chamber of Deputies in Rome at 4 p.m. and to the Senate at 6 p.m. after his Cabinet approved the package yesterday, a day ahead of schedule. The package, which includes more than 12 billion euros in spending cuts, will force workers to delay retirement, resurrect a tax on first homes, crack down on tax evasion and open up closed professions.