Italy agrees to international monitoring of reform

Italy has agreed to allow the European Commission and the IMF to monitor its implementation of budgetary reforms, Deutsche Welle reports.

Izvor: Deutsche Welle

Friday, 04.11.2011.

17:14

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Italy has agreed to allow the European Commission and the IMF to monitor its implementation of budgetary reforms, Deutsche Welle reports. The reports would cut state spending and raise revenue in a bid to prevent the sovereign debt crisis from spreading to the eurozone's third largest economy. Italy agrees to international monitoring of reform "Italy has decided on its own to ask the IMF to monitor the implementation," EU Commission President Jose Manuel Barroso told reporters at the end of the G20 summit in Cannes, France dominated by the debt crises in Italy and Greece. Italian Prime Minister Silvio Berlusconi has come under escalating political fire both in Rome and abroad for failing to present a roadmap to guide Italy out of its difficult fiscal and economic straits. Berlusconi failed to present a reform package to fellow eurozone members and other G20 partners on Wednesday after his own cabinet refused to support the stimulus and austerity measures. In Rome, the Italian premier faces growing calls for his resignation, including from within his own center-right coalition government. Berlusconi said during the G20 summit that he would tie the passage of the reform measures to a vote of confidence, which would take place within the next two weeks. Silvio Berlusconi, right, and European Council President Herman Van Rompuy attend a eurozone meeting (Beta/AP)

Italy agrees to international monitoring of reform

"Italy has decided on its own to ask the IMF to monitor the implementation," EU Commission President Jose Manuel Barroso told reporters at the end of the G20 summit in Cannes, France dominated by the debt crises in Italy and Greece.

Italian Prime Minister Silvio Berlusconi has come under escalating political fire both in Rome and abroad for failing to present a roadmap to guide Italy out of its difficult fiscal and economic straits. Berlusconi failed to present a reform package to fellow eurozone members and other G20 partners on Wednesday after his own cabinet refused to support the stimulus and austerity measures.

In Rome, the Italian premier faces growing calls for his resignation, including from within his own center-right coalition government. Berlusconi said during the G20 summit that he would tie the passage of the reform measures to a vote of confidence, which would take place within the next two weeks.

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