Berlusconi attacks Italian people


This satiric video is about Charlie Broker and Jon Stewart on Berlusconi.

From daily The Morning Star in Britain:

Berlusconi ready to wield axe over debt

Thursday 14 July 2011

Italy looked set to follow Greece, Ireland and Portugal into a vicious circle of economic pain today after the senate voted 161-135 in favour of a tough austerity budget, slashing €48 billion (£42bn) off public spending.

Prime Minister Silvio Berlusconi had staked the survival of his government on passing the budget, which goes to the lower house tomorrow.

It includes raising the price of prescription drugs and massive cuts to health care, pensions and local authority budgets.

Italy‘s €1.8 trillion (£1.6tn) debt is higher than those of Greece, Spain, Portugal and Ireland combined, and the government was under pressure from the European Central Bank and the International Monetary Fund to introduce radical austerity measures despite such tactics not proving effective in reducing the deficit in Greece.

Yesterday the government managed to raise €2.97bn (£2.6bn) by selling state bonds but due to poor confidence in the country’s solvency, it was forced to offer a record high 5.9 per cent rate of return.

Sam Webb on the importance of creating the conditions to roll back the global austerity drive: here.

5 thoughts on “Berlusconi attacks Italian people

  1. Stricken nation told to hurry up

    GREECE: German Economy Minister Philipp Roesler complained today that Greece was not cutting “red tape” fast enough, despite savage spending cuts, a fire sale of public assets and a wave of deregulation which has sparked strikes and protests, including a march on parliament by 3,000 taxi drivers on Tuesday.

    Mr Roesler said that “German industry representatives” had told him that licensing rules and labour rights were the main turn-off for would-be investors in the country.

    http://www.morningstaronline.co.uk/news/content/view/full/107565

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