CCTV.com - CNTV English - CCTV News

Implementation of Italy's reforms crucial: EC president Van Rompuy

09-14-2011 08:49 BJT

Watch Video

Play Video

Italy looks like it could be the next domino to fall. European Council President Herman Van Rompuy says Italy's reform is important not only for the country itself, but for the eurozone as a whole.

Its austerity deal has been a closely watched, and controversial issue. The package is expected to save 74 billion U.S. dollars, through a 1 percent rise in value added tax, and cuts to government spending. Italy's prime minister, Silvio Berlusconi has supported the measures, which are set to be approved by parliament on Wednesday.

Meanwhile, reports say that Italy has turned to China for help, asking the cash-rich nation to buy its bonds.

European Council President Herman Van Rompuy addresses the European
Parliament, on the conclusions of last week's European Union leaders
summit, in Brussels June 28, 2011. Credit: Reuters/Thierry Roge

 

Italian Premier Silvio Berlusconi accused the left-wing opposition of ruining Italy
as he met with EU officials in Brussels, a trip critics say was arranged to skirt
legal hearings in Rome.

 

Italy's Finance Minister Giulio Tremonti (pictured) met with the
head of China's largest sovereign wealth fund CIC last week as
Rome tries to bring down soaring borrowing interest rates, a
ministry spokesman has said. The talks addressed the possibility
of China buying Italian bonds, the Financial Times has reported.

Editor:Li Wanran |Source: CNTV.CN

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program