News / Europe

Italian Senate Vote Marks Beginning of End for Berlusconi

Italian Prime Minister Silvio Berlusconi (File)
Italian Prime Minister Silvio Berlusconi (File)
Henry Ridgwell

The euro debt crisis looks set to claim its biggest scalp after the Italian senate approved a broad range of austerity measures Friday, paving the way for Prime Minister Silvio Berlusconi to resign. A 68-year-old adviser for Goldman Sachs Group Inc., Mario Monti is a leading candidate to take over - but  the newcomer has already provoked some critics before he’s even confirmed in the job.

The Italian senate passed the package of austerity measures by 156 votes in favour to just 12 against. The lower house is due to vote on the same bill Saturday. If it passes there, Prime Minister Berlusconi has vowed to step down - perhaps as soon as the weekend.

Italy’s longest-serving post-World War II leader has indicated he would back a unity government, likely to be led by former European Union commissioner Mario Monti.

James Walston of the American University of Rome says investors desperately want to see such sweeping changes.

“I think that Mario Monti is the person that the markets are waiting for. The former EU commissioner, he’s been dealing with competition policy, he’s internationally respected, he’s a very good economist. I think it will bring stability. He will have to face a lot of challenges and it’s not going to be easy,” Walston said.

The current austerity measures are aimed at saving almost 60 billion euros from spending cuts and tax rises.
Public sector salaries would be frozen until 2014.

The retirement age for women would gradually be raised towards 65.  Sales taxes would increase to 21%. And cash transactions would be limited to 2,500 euros in a bid to target tax evaders.

Economist Nicola Borri says only a unity government run by a non-political figure could hope to implement such austerity on the Italian people.

“Even in parliament, there are quite large groups of people on both sides that believe these reforms are important, that they should be implemented, but these people do not have enough political power to put them forward. And so the hope is that this person who’s not going to run in the future might be able to do the dirty job. He is going to pass these reforms, maybe people are going to hate him for a little bit but he doesn’t care too much and so these reforms will be in place, ” Borri said.

Markets may approve - but there are many dissenting voices. Newspaper columns and blogs are buzzing with claims that Mario Monti is being imposed on Italy by the European Union.

“There is a serious concern about democracy because people feel that some measures are imposed from above coming from the euro. In Italy, still they remember the euro problem when the prices doubled in the changeover [from the lira] so the euro does not have an exceptional reputation here,” said. Claudio Borghi, a columnist with the Milan-based ‘Il Giornale’ newspaper.

The accusations that the EU is undermining Italy’s sovereignty echo those made in Greece, where a new so-called technocrat Prime Minister, Lucas Papedemos has been sworn in to usher through further rounds of spending cuts.

But such is the gravity of the debt crisis, the European Union insists economic stability must come first.

You May Like

Israelis Quietly Expand Enclave in Palestinian District of Jerusalem

Estimated 500 settlers, armed or protected by paramilitary police, live in Silwan among 50,000 Palestinians More

Video US, Iran Face Similar Challenges in Syrian Fight Against IS

Both Washington, Tehran back fighters battling Islamic State militants in Iraq -- but in Syria they support opposing sides in country’s civil war More

China Boosts Efforts to Help Afghan, Regional Stability

Observers say China’s increased regional involvement are due to concerns that Afghan instability and the presence of anti-China militants in Pakistani border areas could fuel Xinjiang troubles More

This forum has been closed.
Comments
     
There are no comments in this forum. Be first and add one

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
After Decades of Pressure, Luxembourg Drops Bank Secrecy Rulesi
X
October 21, 2014 12:20 AM
European Union finance ministers have reached a breakthrough agreement that will make it more difficult for tax cheats to hide their money. The new legislation, which had been blocked for years by countries with a reputation as tax havens, was approved last week after Luxembourg and Austria agreed to lift their vetoes. But as Mil Arcega reports, it doesn’t mean tax cheats have run out of places to keep their money hidden.
Video

Video After Decades of Pressure, Luxembourg Drops Bank Secrecy Rules

European Union finance ministers have reached a breakthrough agreement that will make it more difficult for tax cheats to hide their money. The new legislation, which had been blocked for years by countries with a reputation as tax havens, was approved last week after Luxembourg and Austria agreed to lift their vetoes. But as Mil Arcega reports, it doesn’t mean tax cheats have run out of places to keep their money hidden.
Video

Video Kobani Refugees Welcome, Turkey Criticizes, US Airdrop

Residents of Kobani in northern Syria have welcomed the airdrop of weapons, ammunition and medicine to Kurdish militia who are resisting the seizure of their city by Islamic State militants. The Turkish government, however, has criticized the operation. VOA’s Scott Bobb reports from southeastern Turkey, across the border from Kobani.
Video

Video China Political Meeting Seeks to Improve Rule of Law

China’s communist leaders will host a top level political meeting this week, called the Fourth Plenum, and for the first time in the party’s history, rule of law will be a key item on the agenda. Analysts and Chinese media reports say the meetings could see the approval of long-awaited measures aimed at giving courts more independence and include steps to enhance an already aggressive and high-reaching anti-corruption drive. VOA’s Bill Ide has more from Beijing.
Video

Video US ‘Death Cafes’ Put Focus on the Finale

In contemporary America, death usually is a topic to be avoided. But the growing “death café” movement encourages people to discuss their fears and desires about their final moments. VOA’s Jerome Socolovsky reports.
Video

Video Ebola Orphanage Opens in Sierra Leone

Sierra Leone's first Ebola orphanage has opened in the Kailahun district. Hundreds of children orphaned since the beginning of the Ebola outbreak face stigma and rejection with nobody to care for them. Adam Bailes reports for VOA about a new interim care center that's aimed at helping the growing number of children affected by Ebola.
Video

Video Young Nairobi Tech Innovator on 'Track' in Security Business

A 24-year-old technology innovator in Nairobi has invented a tracking device that monitors and secures cars. He has also come up with what he claims is the most robust audio-visual surveillance system yet. As Lenny Ruvaga reports from the Kenyan capital, his innovations are offering alternative security solutions.
Video

Video Latinas Converting to Islam for Identity, Structure

Latinos are one of the fastest growing groups in the Muslim religion. According to the Pew Research Center, about 6 percent of American Muslims are Latino. And a little more than half of new converts are female. VOA’s Carolyn Presutti travelled to Miami, Florida -- where two out of every three residents is Hispanic -- to learn more.
Video

Video Exclusive: American Joins Kurds' Anti-IS Fight

The United States and other Western nations have expressed alarm about their citizens joining Islamic State forces in Syria and Iraq. In a rare counterpoint to the phenomenon, an American has taken up arms with the militants' Syrian Kurdish opponents. Elizabeth Arrott has more in this exclusive profile by VOA Kurdish reporter Zana Omer in Ras al Ayn, Syria.
Video

Video South Korea Confronts Violence Within Military Ranks

Every able-bodied South Korean male between 18 and 35 must serve for 21 to 36 months in the country’s armed forces, depending upon the specific branch. For many, service is a rite of passage to manhood. But there are growing concerns that bullying and violence come along with the tradition. Reporter Jason Strother has more from Seoul.
Video

Video North Carolina Emerges as Key Election Battleground

U.S. congressional midterm elections will be held on November 4th and most political analysts give Republicans an excellent chance to win a majority in the U.S. Senate, which Democrats now control. So what are the issues driving voters in this congressional election year? VOA National Correspondent Jim Malone traveled to North Carolina, one of the most politically competitive states in the country, to find out.
Video

Video Comanche People Maintain Pride in Their Heritage

The Comanche (Indian nation) once were called the “Lords of the Plains,” with an empire that included half the land area of current day Texas, large parts of Oklahoma, New Mexico, Kansas and Colorado.The fierceness and battle prowess of these warriors on horseback delayed the settlement of most of West Texas for four decades. VOA’s Greg Flakus reports from Lawton, Oklahoma, that while their warrior days are over, the 15,000 members of the Comanche Nation remain a proud people.
Video

Video Turkey Campus Attacks Raise Islamic Radicalization Fears

Concerns are growing in Turkey of Islamic radicalization at some universities, after clashes between supporters of the jihadist group Islamic State (IS) or ISIS, and those opposed to the extremists. Pro-jihadist literature is on sale openly on the streets of Istanbul. Critics accuse the government of turning a blind eye to radicalism at home, while Kurds accuse the president of supporting IS - a charge strongly denied. Henry Ridgwell reports from London.

All About America

AppleAndroid