More screws tighten on govts: Italian senate to vote on austerity budget

The Italian senate is set to vote on a tough austerity budget, which proposes cuts of 48bn euros ($67bn; £42bn) over three years.

Italy wants to reduce one of the largest budget deficits in the eurozone and avoid any need for a bail-out.

Correspondents say the budget is likely to be approved by the upper house, and then in the lower house on Friday.

Italian PM Silvio Berlusconi has said Italy is on the front line of the eurozone's economic difficulties.

The BBC's Gavin Hewitt says both the government and the opposition know that Italy is under fierce scrutiny by the markets due to its large debts.

Earlier this week, the International Monetary Fund (IMF) asked Italy to ensure "decisive implementation" of spending cuts.

In a report, the IMF said Italy must make efforts to reduce public debt, maintain the stability of its financial sector and introduce structural reforms to boost growth.

The vote comes amid concerns that Italy may be the next country to be hit by the eurozone's debt crisis.

http://www.bbc.co.uk/news/world-europe-14149164

More screws tighten on govts: Italian senate to vote on austerity budget

More screws tighten on govts: Italian senate to vote on austerity budget

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