Italy’s government has come forward with an aggressive 30 billion euro austerity package to prevent the country’s bankruptcy and pave the way for the fiscal integration that German Chancellor Angela Merkel is pushing as the key to solving the European debt crisis. In the video below, Elsa Fornero, the Italian welfare minister, broke down in explaining the provisions to increase the pension age to 66. The package also increases taxes on housing, luxury items and via a 23 percent VAT, a measure Ireland is also taking. Approval is expected before Christmas.
Source: Italian minister in tears over austerity plans – video – Guardian
This post originally appeared at Credit Writedowns and is posted with permission.
8 Responses to “Italian Minister Breaks Down in Tears Over Austerity Budget”
More taxes?? Why not cut existing pensions in half or have them pay more for healthcare? Funny how they still protect their voter base and hurt the taxpayers who usually don't support socialists. Unbelievable that people would let them get away with this.
Crying about raising the retirement age to 66, which is the same age as in Germany, which has been paying Italy’s bills? I’m starting to think socialism is a mental disorder
Utopian progressive liberals have difficulty dealing with reality.
Living within ones budget is reality.
…..socialism is the crulest most dangerous socioeconomic system ever devised…..it leaves death, economic mahem, and social unrest every where it is tried…..socialism is hell on earth!
It's so sad when you run out of other peoples' money. Waaaaaaaaa!
Sooner or later you have to pay the bill. She may cry, but will she take half of her salary?
Cry us a river. 66?! Oh, the humanity.
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