Italian Government Approves Austerity Cuts

The Cabinet approved euro45 billion ($64.12 billion) in cuts over the next two years to balance the budget by 2013 to meet demands of European Central Bank. The measures were approved despite fierce resistance from local government officials who called the cuts socially unjust.

Source: http://www.npr.org/2011/08/12/139584370/italian-government-approves-austerity-cuts?ft=1&f=1004

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