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

    How different voting systems work around the world

    How different voting systems work around the world

    Nearly two billion voters in 52 countries around the world will head to the polls this year to elect their leaders.

    How Moscow lost Riyadh in 1938

    How Moscow lost Riyadh in 1938

    Russian-Saudi relations could be very different today, if Stalin hadn't killed the Soviet ambassador to Saudi Arabia.

    The peace games: Dreaming big for South Sudan's youth

    The peace games: Dreaming big for South Sudan's youth

    A relatively new independence and fresh waves of conflict inspire a South Sudanese refugee to build antiwar video games.