Economic Update Dutch version
The Prime Minister of Italy, Mario Monti, faces the difficult task of lowering the budget deficit and enacting structural reforms while the economy is falling back into recession. Under the motto Save Italy, the first set of measures has been passed.
The new Rutte cabinet took up office on 14 October, and has since announced an agenda of severe cost cutting. Most of the savings will involve government (€ 6.1 bn), social security (€ 4.3 bn) and international cooperation (€ 1.9 bn).