Sunday, December 4, 2011

Europe wants more reforms

The financial vice-president of the European Commission, Olli Rehn , has said that the adjustment package approved by the Italian government offers "a much needed signal a new approach to economic policy," but warned that Rome will face more reforms soon.

Rehn said that the EC will conduct a detailed analysis when you get all the details, "but overall the package is timely and ambitious, giving a much needed signal a new approach. "

He stressed the efforts of fiscal consolidation , "to restore the credibility of the economy and control of their debt." D staked further that measures to increase tax revenues were partially offset by incentive tax to support enterprise and employment and welcomed the commitment to reinforcing the fight against tax fraud.

"In the area of pensions , some long-awaited measures are being introduced to reduce pension expenditure while reinforcing the justice system and increase the participation of the workforce, "he said.

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