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Friday, August 05, 2011

Balanced-Budget Amendment Set to Pass? In Italy!

Rumor has it that Italy is going to announce that they're introducing a balanced-budget amendment into their constitution - this is according to Jeffrey Donovan of Bloomberg. (I can't find the link, but I'm reading the article). It says:

Italy's government will announce plans to spped up state-asset sales, liberalize the labor market and introduce a balanced-budget amendment.

Interesting, because I also read that Finance minister Tremonti spoke with Tim Geithner earlier today. I suppose Tremonti decided to do exactly the opposite of what Geithner and Obama are proposing in the US. Good for them!