Key reforms win initial approval in Italy

2011-11-11 16:29

Rome - Italy's Senate on Friday gave its initial approval to a package of key economic reforms aimed at staving off bankruptcy including state asset sell-offs and a liberalisation of local services.

Final approval of the measures by the lower house - expected on Saturday-- is the precondition set by Prime Minister Silvio Berlusconi for his resignation after a parliamentary revolt deprived his coalition of a ruling majority.

Friday's vote was passed by 156 votes in favour, 12 against and one formal abstention, while opposition senators did not take part in the vote in order to show their objections but at the same time not hinder the approval.

The measures also include a liberalisation of professions like law and accountancy with the removal of minimum tariffs to increase competition as well as a reform to create "bureacracy free zones" for companies to grow.

Once the measures are definitively adopted and Berlusconi resigns, President Giorgio Napolitano is expected to move quickly to give a mandate to former European Union commissioner Mario Monti to form a new transition government.

Monti's possible nomination has received support from key Italian political and business leaders as well as the international community and investors.

But the nomination is not a done deal because of opposition from Berlusconi's centre-right coalition and another small party.

If attempts at forming a government fail, Napolitano would be forced to dissolve parliament and call early elections.

Read more on:    eu  |  giorgio napolitano  |  silvio berlusconi  |  italy  |  europe debt crisis

Join the conversation! encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.
NEXT ON NEWS24X publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Inside News24


Meet instagram star, Pumpkin the racoon

With 300 000 followers and growing Pumpkin is winning over the internet!



The cats that cost R35 000
Miley Cyrus can’t get enough of her new puppy
13 guilty pets
Meet SA's top poacher-catcher

Book flights

Compare, Book, Fly

Traffic Alerts

Plant some seeds. Your innovative mind is on fire and your ingenious ideas may just be the seeds for future projects. You may more

There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.