Protests go on as Monti takes over
Source: Agencies |
November 18, 2011, Friday
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AS protests erupted in Rome and other cities, Italy's new premier unveiled his economic plan yesterday, vowing to spur growth and spread fairly the sacrifices Italians must accept to save their country from bankruptcy and the eurozone from collapse.
As Mario Monti spoke, riot police clashed with anti-austerity protesters in Milan.
The former European Union competition commissioner said: "The end of the euro would cause the disintegration of the united market. The future of the euro also depends on what Italy will do in the next weeks - also, not only."
Monti formed his new government on Wednesday, shunning politicians and turning to fellow professors, bankers and business executives to fill key cabinet posts.
A day later he revealed plans to fight tax evasion, lower costs for companies so they can hire more and lower tax rates for women to encourage their increased participation in the workplace. He warned Italians they must brace for more sacrifices, including the probable return of a property tax on primary residences.
He said: "We must convince the markets we have started going down the road of a lasting reduction in the ratio of public debt to gross domestic product, and to reach this objective we have three priorities: budgetary rigor, growth and fairness."
His administration must restore confidence in the country's financial future and avoid the contagion that would worsen the eurozone's debt crisis.
Italy's spiraling financial crisis helped bring down media mogul Silvio Berlusconi's three-and-a-half-year-old government last week, after months of squabbling over how to save Italy from financial ruin.
Monti's choice of unelected experts for his cabinet and the prospect of tough reforms have fueled unrest. In cities from north to south, students yesterday clashed with police in protests against feared budget cuts, while previously planned transport strikes halted buses and trains.
Police in riot gear scuffled with students in Milan as they tried to march to Bocconi University, which educates Italy's business elite. Monti is Bocconi's president.
In Palermo, Sicily, demonstrators hurled eggs and smoke bombs at a bank and protesters threw stones at police. A protester was injured when police charged demonstrators who were trying to occupy a bank.
In Rome, hundreds of students gathered outside Sapienza University while others assembled near the main railway station. They marched toward the Senate, where lawmakers were holding a confidence vote on the new government.
Riot police in Turin reported several police injuries as they held back protesters trying to break through barriers.
As Mario Monti spoke, riot police clashed with anti-austerity protesters in Milan.
The former European Union competition commissioner said: "The end of the euro would cause the disintegration of the united market. The future of the euro also depends on what Italy will do in the next weeks - also, not only."
Monti formed his new government on Wednesday, shunning politicians and turning to fellow professors, bankers and business executives to fill key cabinet posts.
A day later he revealed plans to fight tax evasion, lower costs for companies so they can hire more and lower tax rates for women to encourage their increased participation in the workplace. He warned Italians they must brace for more sacrifices, including the probable return of a property tax on primary residences.
He said: "We must convince the markets we have started going down the road of a lasting reduction in the ratio of public debt to gross domestic product, and to reach this objective we have three priorities: budgetary rigor, growth and fairness."
His administration must restore confidence in the country's financial future and avoid the contagion that would worsen the eurozone's debt crisis.
Italy's spiraling financial crisis helped bring down media mogul Silvio Berlusconi's three-and-a-half-year-old government last week, after months of squabbling over how to save Italy from financial ruin.
Monti's choice of unelected experts for his cabinet and the prospect of tough reforms have fueled unrest. In cities from north to south, students yesterday clashed with police in protests against feared budget cuts, while previously planned transport strikes halted buses and trains.
Police in riot gear scuffled with students in Milan as they tried to march to Bocconi University, which educates Italy's business elite. Monti is Bocconi's president.
In Palermo, Sicily, demonstrators hurled eggs and smoke bombs at a bank and protesters threw stones at police. A protester was injured when police charged demonstrators who were trying to occupy a bank.
In Rome, hundreds of students gathered outside Sapienza University while others assembled near the main railway station. They marched toward the Senate, where lawmakers were holding a confidence vote on the new government.
Riot police in Turin reported several police injuries as they held back protesters trying to break through barriers.
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