Steinitz to Italian PM: Iran economy on brink of collapse

April 9, 2012 13:38

The Iranian economy is on “the brink of collapse” and now is the time to tighten sanctions, Finance Minister Yuval Steinitz told visiting Italian Prime Minister Mario Monti Sunday night.

Steinitz and Monti, who serves as PM and as finance minister, discussed the establishment of a fund to support bilateral industrial technology cooperation. They also discussed Israel’s impending $1 billion purchase of 30 Italian training jets, and potential Italian purchases of products manufactured by Israel Aerospace Industries, Rafael and Elbit Systems.

Monti expressed interest in Israel’s two-year budget, saying that European countries would examine the matter in a positive light, especially given that member nations must now have their budget procedures approved by the European Union.

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