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Surprise Berlusconi and Tremonti: immediate liberalizations and advance to 2013 of the balanced budget

Surprisingly, Berlusconi and Tremonti convene a press conference after the markets are closed and announce 4 new things: obligation to balance the public budget in the Constitution; advance to 2013 of the balanced budget; liberalizations; labor market reform

Obligation to balance the public budget in the Constitution and advance the balance to 2013. And also: liberalization and reform of the labor market. These are the four most important innovations announced by surprise by Prime Minister Silvio Berlusconi and by Economy Minister Giulio Tremonti in a surprise press conference convened at Palazzo Chigi. Evidently, faced with the repeated collapses of the Italian Stock Exchange and the fearfully accumulated records hour after hour by the spread of BTP yields over German Bunds, but also faced with the pressing pressure from Europe (both the EU and the ECB), the Government is finally released from immobility after a round of talks with the heads of state and government of the major European countries. This will require the Chambers to convene the competent commissions as soon as possible. The first reaction of the secretary of the Democratic Party, Pierluigi Bersani, was negative: "If the government doesn't change, it's useless". But the news announced by the Government, however late and partial, change the scenario.

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