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

    Zimbabwe military's statement after seizing power

    Zimbabwe military's statement after seizing power

    Major General SB Moyo addresses the nation after Zimbabwe's military seizes state TV, blocks off government offices.

    The Muslims of South Korea

    The Muslims of South Korea

    The number of Muslims in South Korea is estimated to be around 100,000, including foreigners.

    Aamir Khan: The Snake Charmer

    Aamir Khan: The Snake Charmer

    Can Aamir Khan create lasting change in Indian society or is he just another Bollywood star playing the role of a hero?