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December 5, 2011

Italy Austerity Measure Raises Retirement Age, Taxes 
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Italy's cabinet has unveiled a massive $32 billion austerity package in
its response to the sovereign debt crisis threatening the Eurozone. The
plan includes a series of tax hikes and raises the retirement age for
Italian workers. Italy's trade unions have denounced the measures,
saying they will come on the backs of the poor. On Sunday, Italy's
Welfare Minister broke into tears as she discussed the sacrifices being
asked of low-income pensioners.



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