Bloomberg News

Italy Plans 5 Billion Euros in Annual Asset Sales Over 3 Years

October 26, 2011

Oct. 26 (Bloomberg) -- Italy plans to raise 5 billion euros annually from asset sales for the next three years and increase the retirement age for men and women to 67, starting 2026, Prime Minister Silvio Berlusconi said in a letter to the European Union on his budget plans.

The country also plans to make it easier for companies to hire and fire workers, allowing them to ax employees on full- time contracts for “economic reasons,” according to the letter released today.

The asset-sales plan will be finalized by Nov. 30, it said.

To contact the reporter on this story: Chiara Vasarri in Milan at cvasarri@bloomberg.net

To contact the editor responsible for this story: Andrew Atkinson at a.atkinson@bloomberg.net


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