10 Italian cities face bankruptcy: ReportJuly 25th, 2012 - 12:56 am ICT by IANS
Moscow, July 24 (IANS/RIA Novosti) Ten Italian cities are facing bankruptcy as they are unable to fulfil their budget commitments, Italian newspaper La Stampa reported Tuesday.
Graziano Del Rio, president of National Association of Italian Municipalities, told the paper that many schools in Naples, Palermo in Sicily, Reggio di Calabria, Alessandria in Piedmont and in some towns might not start school lessons in the fall due to city budget deficits caused by huge cuts being implemented by the government.
The government has been trying to reduce the state debt of about two trillion euros by cutting the budgets of 64 out of 107 Italian provinces. This year the municipalities’ finances will be cut by 500 million euros (about $604 million), and by one billion euros in 2013.
The Italian government approved a programme in early July to cut budget spending by 26 billion euros in 2012-2014. About 10 percent of state employees and 20 percent of state agencies’ heads could be dismissed in the next three years.
- Ten Italian cities are at the risk of bankruptcy - Jul 24, 2012
- Police move to crush mafia in Italy - Jul 13, 2010
- Italian magistrate arrested in mafia crackdown - Nov 30, 2011
- Russia to sell silver, diamonds worth over $300 mn - Feb 22, 2012
- Russia losing space race: Poll - Apr 13, 2012
- New Democracy party asked to form Greek government - Jun 18, 2012
- Russia's external debt down 10 percent to $36 bn - Mar 01, 2012
- Give Greece extra time: Austria - Aug 27, 2012
- $74 bn lost in Fukushima disaster - Oct 14, 2011
- Iran to increase defence budget - Feb 03, 2012
- Italy may unfreeze $3.6 bn of Libyan assets - Sep 04, 2011
- Fugitive Italian mafia leader arrested - May 04, 2012
- Nearly 200 kg cocaine seized in Italy port - Sep 08, 2012
- Poland scraps warship project - Feb 25, 2012
- LUKoil ups stake in Italian refinery - Sep 05, 2012
Tags: alessandria, budget deficits, city budget, commitments, graziano del rio, italian cities, italian government, italian provinces, la stampa, naples, national association of italian municipalities, one billion, palermo, reggio di calabria, ria novosti, sicily, snb, state debt, state employees, trillion