Arrow-right Camera

The Spokesman-Review Newspaper The Spokesman-Review

Spokane, Washington  Est. May 19, 1883
Clear Night 28° Clear
News >  Nation/World

Italian Adversaries Join Forces To Try To Stop Lira’s Nose Dive

Associated Press

Seeking to halt the lira’s nose dive, political adversaries put aside differences Sunday to offer support for a deficit-cutting proposal by Premier Lamberto Dini.

The lira crashed through a series of all-time lows against the German mark last week as financial markets became concerned that Dini’s budget plans would hit opposition.

But rival political leaders now appear willing to join together to back Dini’s proposals, which could be outlined formally this week. The plan reportedly entails cuts in government spending and some tax increases.

Massimo D’Alema, leader of the former Communist Party, called Dini’s proposal “rigorous but equal … that asks sacrifices from the majority and also those that have more.”

Antonio Tajani, leader of former Premier Silvio Berlusconi’s party, Forza Italia (Let’s Go, Italy), indicated the bloc would support the measures but added that it still insists on elections this spring.

Dini, who was picked as a compromise premier for Italy’s 54th postwar government, put together a non-political Cabinet of experts and promised to step aside as soon as his programs are in motion.

The Spokesman-Review Newspaper

Local journalism is essential.

Give directly to The Spokesman-Review's Northwest Passages community forums series -- which helps to offset the costs of several reporter and editor positions at the newspaper -- by using the easy options below. Gifts processed in this system are not tax deductible, but are predominately used to help meet the local financial requirements needed to receive national matching-grant funds.

Subscribe to the Coronavirus newsletter

Get the day’s latest Coronavirus news delivered to your inbox by subscribing to our newsletter.


Annual health and dental insurance enrollment period open now

 (Courtesy Washington Healthplanfinder)
Sponsored

2020 has been a stressful year for myriad reasons.