Save Italy is the name of the economic recovery plan Italian Prime Minister Mario Monti. The package of fiscal adjustments is worth €30 billion ($40 billion) over three years, and includes tax increases, pension cuts, stronger protection against tax evasion, and an increase in the retirement age. The reform package is meant to reduce debt, balance the budget and increase investor confidence.
Monti, a technocrat who replaced Silvio Berlusconi as Prime Minister, said the plan was necessary to prevent the economy of Italy from becoming like Greece.
References
- ^ "The new prime minister pleases markets but spooks the people". economist.com. December 10, 2011. Archived from the original on May 18, 2012. Retrieved April 5, 2012.
- ^ "Italy's Prime Minister $40 Billion 'Save Italy' Plan". National Public Radio. December 5, 2011. Archived from the original on March 4, 2016. Retrieved April 3, 2018.
- Armitstead, Louise (5 December 2011). "'Save Italy' plan pulls bonds back from brink". telegraph.co.uk. Archived from the original on 26 June 2012. Retrieved 3 April 2018.
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