Italian PM Monti Faces 2nd Confidence Vote

World | November 18, 2011, Friday // 08:04|  views

Italy`s new Prime Minister Mario Monti (2-L) with President Giorgio Napolitano (2-R) during the swearing-in ceremony of the new Italian government at the Quirinale Palace, the presidential palace in Rome, Italy, 16 November 2011.

Newly appointed Italian Prime Minister Mario Monti and his technocrat cabinet face a vital confidence vote in the lower house of the country's parliament.

On Thursday, Monti easily won the confidence vote in the upper house (the Senate), thus passing what many described as his first major test since taking over.

The former EU Commissioner is set to find similar support in the Chamber of deputies on Thursday, observers reckon.

"The future of the euro also depends on what Italy will do in the next few weeks," Monti declared before the vote on Thursday, as cited by BBC.

The economist promised to respect Italy's timetable to balance its budget by 2013 and reduce its debt, but said austerity measures would be balanced by economic growth and social fairness.

Among the measures included in the Italian Prime Minister's economic policy program is a reform of the labor market and the pension system, as well as a possible additional tax on real estate.

Monti has assured that all measures and reforms will be made so as to ensure the maintenance of social justice in the country.

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Tags: Italy, euro, Mario Monti, confidence vote, austerity, debt crisis, crisis

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