The Italian government is eyeing spending cuts worth € 27.6 billion over the next two years, a move similar to those recently announced by Spain and Portugal in order to re-establish market confidence in euro economies.
"The measures which will make up the budget adjustment in the next two years will not be very different from those being taken by Paris, Madrid, London, Berlin and Lisbon," economy minister Giulio Tremonti told the Corriere della Sera newspaper on Sunday (16 May).
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