BREAKING NEWS

Italy's Tremonti in parliament, debt plan under fire

By REUTERS

AUGUST 11, 2011 12:30

ROME - Economy Minister Giulio Tremonti appeared in parliament on Thursday to discuss the government's response to the euro zone debt crisis amid increasing criticism of its failure to provide any detail of austerity plans.

Prime Minister Silvio Berlusconi told unions and employers on Wednesday that the cabinet would approve an emergency decree with deficit reduction measures by August 18 but provided no concrete proposals.

Pierluigi Bersani, leader of the center-left opposition Democratic Party, said the extreme turbulence on financial markets over recent weeks showed that more urgency was needed.

"The government didn't say anything to the unions and employers yesterday, that's the point, just as they didn't say anything in parliament 10 days ago," he told state television. "I hope Tremonti comes with some more detail today," he said.

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