ECB's Bini Smaghi calls for Italian pension reform

European Central Bank executive committee member Lorenzo Bini Smaghi in an interview called for an immediate pension reform in Italy.

In the interview with the daily Il Corriere della Sera, Bini Smaghi said that he does not understand the 'economic rationale' that prompted the government to reduce to 30 bln eur from an initial 35 bln corrective measure to cut next year's budget deficit to 2.8 pct of GDP.

Bini Smaghi said the extra revenues stem from better-than-expected economic growth and it

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