Spending Cuts May Close Italy's Uffizi -Minister
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Italy's culture minister has threatened to shut down Florence's Uffizi museum, home of masterpieces by Michelangelo and Botticelli, if the government doesn't scale back planned spending cuts.
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The EU's new budget chief criticised calls by the bloc's richest states to limit EU spending to one percent of gross national income (GNI), saying it would not amount to a freeze but a big funding cut.
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Italian Prime Minister Silvio Berlusconi's four-year corruption trial is expected to draw to a close on Friday.
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Angry forest service workers blocked highways, halted trains and forced an airport to shut down on Thursday, effectively cutting off the southern toe of Italy in a protest against spending cuts that could cost hundreds of jobs. The demonstrations across Calabria, the region that makes up the tip of the Italian boot, are the latest by state sector workers upset by the belt-tightening 2005 budget and follows a general strike last week.
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Prime Minister Romano Prodi may resign in the wake of a defection by a key parliamentary ally.
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An ally of Italian Prime Minister Romano  Prodi dealt his government a potentially fatal blow on Monday  by withdrawing support for his coalition, but the premier  resisted calls to resign despite losing his Senate majority.
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General Motors Corp.  was warned of another possible cut in its debt rating on Monday, a day after the world's largest automaker said it would spend about &#36;2 billion (1.55 billion euros) to end its troubled alliance with Fiat Spa .
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If Gordon Brown becomes PM, he could face a tough time with sharp decreases in public spending, a think tank argues.
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Millions of Italian workers are expected to take part in a general strike against $8bn in government spending cuts.
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Silvio Berlusconi's collapse at a political rally alarmed Italy's centre-right opposition and fueled speculation on Monday that the former prime minister may be set to bow out of frontline politics.
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Prime Minister Romano Prodi faced a confidence vote in parliament on Friday over his efforts to push through an unpopular budget he described as bitter medicine that Italy has to swallow to get its finances in order.
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Italy's Prime Minister Romano Prodi, facing shrinking odds of winning a vote of confidence in the opposition-controlled Senate, is considering resigning instead of facing the test, media reports said Wednesday.
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Italy's new deputy economics minister on Tuesday called the nation's economic situation "a disaster," saying the deficit in 2006 may exceed 4.5 percent of gross domestic product.
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A defeat in parliament for Romano Prodi raised new worries Friday about the stability of Italy's center-left governing coalition and prompted opposition calls for the premier's resignation.Comment
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The Italian central bank estimated the government could bring the public deficit down to 2.7 percent next year, but expressed doubt regarding a growth forecast by the International Monetary Bank.
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The European Union&#39;s top monetary official said Tuesday he was concerned over Italian budget deficit figures, only a week after Greece was challenged over alleged sloppy bookkeeping and possible underreporting of its deficit to present a rosy economic
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Italian Prime Minister Romano Prodi had to decide on Thursday whether to resign or risk a confidence vote he would be expected to lose, obliging his centre-left government to step down anyway.