Italy switches to turn in the austerity.

Keywords: wages, rigor, growth, ITALY, Berlusconi.

 The Italian government is expected to announce Tuesday the creation of an austerity plan of 24 billion euros with a wage freeze for civil servants until 2012 and a 10% decline in spending by ministers.

After Greece, Great Britain, Spain and Portugal soon, it's time to switch to Italy in austerity. Officially, the Government will in the afternoon but already the information filter. According to a government source quoted by AFP, the ministers' salaries should be reduced by 10% the portion exceeding the 80,000 euros per year, while the pay of senior civil servants earning between 90,000 and 130,000 euros per year would be reduced by 5% and that senior officials earning more than 130,000 euros by 10%. Other staff will have their salaries frozen until 2012.

Official announcement on Tuesday evening:
The government will also increase the tax on stock-options and bonuses of senior executives from private companies. According to the Italian press, it should be 10%.
In the end, an austerity plan of 24 billion euros that the Berlusconi government had to approve, during a cabinet meeting to be held at 6:00 p.m., Tuesday. This package of austerity measures should enable the government to fulfill its commitment to bringing the deficit to 2.7% of Gross Domestic Product (GDP) in 2012 against 5.3% in 2009.
About 12:15, the index feature of the Milan Stock Exchange, FTSE Eb, fell 4.80% to 18,117 points at the Milan Stock Exchange.