The head of the European Central Bank is urging Italy to carry through with legislation aimed at cutting the deficit and fixing the countrys government debt crisis.
Jean-Claude Trichet said in an interview with Il Sole 24 Ore newspaper published Friday that the 45.5 billion ($65.8 billion) legislative package of spending cuts and tax increases is of extreme importance.
The measures are making their way through parliament but undergoing changes. Prime Minister Silvio Berlusconi has decided to scrap a tax on high earners and cutbacks for town governments.