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Italian government pledges to bolster austerity plan

2012-08-23 6 Dailymotion

Italy's senate is due to vote on an austerity package that will cut $67bn from the budget over three years.<br /><br />The government has also announced its plans to sell stakes in state owned companies.<br /><br />Speculation over whether Italy is next in line for a Greek-style bail-out hit a nerve on investor confidence.<br /><br />At the beginning of the week, the stock exchange plunged to new lows and so did the profits of big corporations and the country's biggest banks.<br /><br />Italians are already feeling the strain.<br /><br />Al Jazeera's Claudio Lavanga reports from Rome.

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