Concern is growing that Italy suffered the same fate of Greece and the rest of the “crisis of the euro” on the one hand and weaken growth prospects of the Italian economy on the other hand .. The IMF asked Italy to abide by the strict restrictions on spending to reducepublic debt and reduce the burden on its economy
After the government started already in the austerity measures, while the Fund assertedthat the plans on the Italian tax reform lacks detailed explanations. And that this isinevitable, but a number of managers feel that some of the big-spending will have apositive impact in calming the markets
The Italian Finance Minister has proposed to reduce Italy’s budget by $ 48 billion eurosover the next three years, in order to fully get rid of the budget deficit by the year 2014,with the knowledge that the proportion of the deficit at the moment of 3.9%.
This comes after it cut its “Standard & Poor” rating from Italy “A + / A-1 +” to “A/A-1″adding that the outlook for Italy’s economy is “negative”, adding that there are concernsabout the ability of Italy to reduce the spending and ensure the safety of