Italy set to adopt austerity package

Speculations about whether Italy is next in line for a bailout are high as small businesses feel the strain.

    Italy's senate is due to vote on an austerity package that will cut $67bn from the budget over three years.

    The government has also announced its plans to sell stakes in state-owned companies.

    Speculation over whether Italy is next in line for a Greek-style bailout has hurt investor confidence.

    At the beginning of the week, stock exchange plunged to new lows while the profits of big corporations and the country's biggest banks have also suffered.

    Italians are already feeling the strain.

    Al Jazeera's Claudio Lavanga reports from Rome.

    SOURCE: Al Jazeera


    YOU MIGHT ALSO LIKE

    Revival: The Muslim Response to the Crusades

    Revival: The Muslim Response to the Crusades

    This part of 'The Crusades: An Arab Perspective' explores the birth of the Muslim revival in the face of the Crusades.

    Going undercover as a sex worker

    Going undercover as a sex worker

    A photojournalist describes how she posed as a prostitute to follow the trade in human flesh.

    Africa is not poor, we are stealing its wealth

    Africa is not poor, we are stealing its wealth

    It's time to change the way we talk and think about Africa.