Italian Government On The Brink Of Collapse
BreakingEconomics.com
Tuesday, October 25, 2011
taly’s Premier Silvio Berlusconi is struggling to gain support for an emergency growth plan that the European Union wants within hours, reports The Washington Post.
Eurozone governments–who are trying to come up with a comprehensive plan to tackle the Eurozone debt crisis by Wednesday–are demanding that Italy draw up new plans for economic stability.
The EU wants Italy to raise its pension age from 65 to 67 and change its legal system to encourage investment, among other suggested reforms.
Berlusconi, however, has found little support within his coalition for the demanded measures, and faces resistance from the Northern League, his powerful ally.
If Berlusconi is unable to meet EU demands, it could cost him his job.
