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Italy's Debt Crisis

Italy's debt crisis Why Italy's debt is spiralling out of control Italy is at the centre of an economic storm that has already crippled three countries in the eurozone. INDUSTRIAL OUTPUT -0.брс in May 2011 M1 DEPOSITS (currency in circulation) -7pc over past six months FISCAL DEFICIT €1.84 trillion making Italy's debt the second highest in Europe Today the Italian Senate approved an austerity budget to bring the economy back from the brink of collapse How Italy compares with other EU countries What's being done On the road to financial recovery Estimated public debt as a % of GDP Total debt that needs to be €1tr Germany 77pc raised or rolled over by 2016 Hungary 79pc Target year for economy 82pc 2014 UK to be back on track Portugal O 87pc Total 88pc 3 €47bn austerity France package O 102pc Ireland Belgium 103pc BUDGET CUTS Central government ministries Regional health spending Town council funding Iceland 108pc State pensions Increases to retirement age ***..... Italy 120pc REVENUE MEASURES Tax hike on financiers * 139pc Higher income from betting Increase tax on large cars Greece BAILED OUT SOURCE IMF, 2011 FIGURES

Italy's Debt Crisis

shared by kcatoto on Jan 28
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Italy's Senate has approved a crucial austerity package and got a key bond auction away as it moved to persuade investors that the debt-laden country will not become the next victim of the eurozone crisis.


The Telegraph


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