Italian Minister Breaks Down in Tears Over Austerity Budget

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"

  1. GilliganOhare   December 6, 2011 at 9:55 am

    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.

  2. brodave   December 6, 2011 at 11:39 am

    Utopian progressive liberals have difficulty dealing with reality.

    Living within ones budget is reality.

  3. Pompey   December 6, 2011 at 11:55 am

    …..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!

  4. PoorBabies   December 6, 2011 at 12:15 pm

    It's so sad when you run out of other peoples' money. Waaaaaaaaa!
    Poor babies.

  5. Crapkiller   December 6, 2011 at 12:17 pm

    Sooner or later you have to pay the bill. She may cry, but will she take half of her salary?

  6. jtorgerson   December 6, 2011 at 12:51 pm

    Cry us a river. 66?! Oh, the humanity.