BLOOMBERG.COM Italian Prime Minister Silvio Berlusconi was put on the defensive at a crisis summit over the country’s finances and appointments at the European Central Bank. The Italian government passed a 54 billion-euro package of spending cuts and tax increases in August to convince the ECB to purchase Italian bonds after the nation’s borrowing costs surged to euro-era records.
The plan aims to balance the budget by 2013. Asked if he has confidence in the capacity of Italy to carry out economic reforms, Sarkozy said he had confidence in the country. He also said that they must trust the sense of responsibility of the Italian authorities as a whole.
The plan aims to balance the budget by 2013. Asked if he has confidence in the capacity of Italy to carry out economic reforms, Sarkozy said he had confidence in the country. He also said that they must trust the sense of responsibility of the Italian authorities as a whole.
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