Friday, August 05, 2011

It's not good enough for USA but Italy likes it - "Balanced Budget"

    Italy's Prime Minister Berlusconi promised to balance the country's budget by 2013, a year earlier than originally planned. Italy is the world's 3rd. largest sovereign issuer of bonds with $4.2 trillion in debt currently outstanding.

    Italy's pledge today to work swiftly for a "constitutional amendment requiring the government to balance its budget" shows that they finally have a grasp of the problem - too much spending.

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