• Offshore investments

    A Fin24 user wants to know how to ensure offshore exposure.

  • Follow us

    Like us on Facebook to see the latest business news and to give us your views.

Data provided by McGregor BFA
All data is delayed
Loading...
See More
Where am I? Home

Italy's trade union calls general strike

Aug 14 2011 13:03 AFP

Related Articles

Urgent EU talks on Greek, Italian woes

ECB appoints new president

Italy confident despite downgrade

Merkel backs Draghi as ECB chief: report

Italy to adopt economic package

Now Italy faces contagion threat

 

Rome - Italy's biggest trade union, the CGIL, on Sunday called for a general strike against the government's new austerity plans.

Union chief Susanna Camusso, speaking in the daily La Repubblica newspaper, said the CGIL (Italian General Confederation of Labour) would hold a meeting on August 23 to fix a date for the strike.

"I can't see any other way to oppose the iniquity of this austerity plan," she added.

Italy's cabinet on Friday approved a €45.5bn ($64.8bn) austerity package of spending cuts and tax hikes that Prime Minister Silvio Berlusconi said was due to pressure from Finland, Germany and the Netherlands.

The draft measures - which must still go before parliament for final approval expected early September - include a new tax on high earners and deep cuts to local government and cabinet costs.

They seek to assuage jittery markets by returning Italy to a balanced budget in 2013 instead of 2014 as previously planned, and come on top of a €48bn package agreed in July when Rome first came under pressure.

CGIL secretary general Camusso said that after the extraordinary meeting of the union's leader next week to fix a date for a general strike the proposal will go out to fellow unions to join the industrial action.

She warned that the government's fiscal plans would hit economic growth.

The plans also favour a liberalised economy, privatisations and make it easier for employers to hire and fire.

ecb  |  italy  |  austerity measures  |  eurozone debt crisis
NEXT ON FIN24X

 
 

Read Fin24’s Comments Policy

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

For detailed Unit Trust information, click here.

We're Talking About...

The Debt Issue

The Debt Issue brings you the latest debt news, tips on how to deal with and avoid debt, a panel of debt experts and real life debt stories from across South Africa.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...