Italians angered by austerity plan

ITALY’S second austerity package in less than a month was met with a chorus of criticism a day after becoming law, with the largest union threatening a general strike over the “injustice” of the measures.

On Saturday, President Giorgio Napolitano signed the emergency decree introducing sweeping measures to cut the fiscal deficit by some €45.5 billion and balance the budget in 2013, a year ahead of its previous schedule.

It was a “missed opportunity”, according to the chief economist of the Paris-based Organisation for Economic Co-operation and Development, Pier Carlo Padoan.