Expect Strikes and Protests to Spread to Italy; Another Look at Why Italy Will Exit the Eurozone Before Spain

via: GlobalEconomicAnalysis
by: Michael Shedlock
Friday, July 20, 2012

Anti-euro sentiment in Italy is already very strong and about to get stronger. Eurointellihence has come interesting comments today regarding Italy.

The demonstrations and protests [in Spain] are very likely now to spread  to Italy. The country’s largest union, CGIL, said there would be a public-sector strike in September to oppose the Italian government latest austerity plan, Il Fatto Quotidiano reports.

According to Susanna Camusso, CGIL head, its union will launch “a general strike of the public sector against the umpteenth measure.” The cuts, to avert a 2% increase in VAT scheduled for September, include a 10% reduction of staff and 20% reduction of managers of public-sector.

The complete package, result of the spending review conducted by Mario Monti, will save over €26bn until 2014. The measure, which will go before the Parliament at the end of July, was approved by the cabinet two weeks ago.

Continue Reading At: GlobalEconomicAnalysis

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