Unelected leader Mario Monti has forced through 30 billion euros of austerity cuts by parliamentary decree. These new cuts will be implemented before Italy’s parliament can discuss them.
Monti has waived his salary as both prime minister and finance minister to save the eurozone money. But most Italians won’t applaud his sacrifice—he is a rich ex-banker who wants them to pay for the crisis the bankers sparked.
The European Central Bank says that Italy is too big to fail and too big to bail out. It has almost two trillion euros of debt—120 percent of its GDP.
Monti’s austerity plans include:
The CGIL, Italy’s main union federation, has held two general strikes this year. There is growing anger on the streets, from school students to pensioners. These are the people who can stop Monti in his tracks.
The islands’ royals live in luxury
Workers’ are fighting back for better pay and conditions