The Italian cabinet on Thursday passed a series of austerity measures aimed at balancing the budget by 2014 and stopping the eurozone crisis spreading.
The package, containing €47 billion of deficit cuts, curbs the budgets of government ministries and local authorities. It will have to be passed by parliament within two months.
"With today's measures we completed our path towards a balanced budget," said finance minister Giulio Tremonti while presenting the package.
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