Italy’s Visco cautious over new austerity package

ignazio-visco

In an appearance before the Senate, the deputy director-general of the Bank of Italy, Ignazio Visco, was cautious about the austerity package put in place to help Italy's economy recover.

Late on Monday, prime minister Silvio Berlusconi agreed to key changes to the €45 billion ($65.7 billion) austerity plan that was critical to the European Central Bank's decision to support Italy's bonds. He dropped a tax on the highest earners and limited funding cuts to regional governments.

Speaking to the

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