Bloomberg News

Italy to Sell EU15 Billion in Real Estate as Part of Austerity

November 09, 2011

Nov. 9 (Bloomberg) -- Italy’s latest austerity legislation calls for selling a total of 15 billion euros in real estate through 2014, Senator Massimo Garavaglia said.

Under the legislation, the government will sell 5 billion euros of real estate a year for the three years starting in 2012, Garavaglia said in an interview in Rome today.

Garavaglia is a member of the Northern League, which is part of the ruling coalition.

To contact the reporter on this story: Lorenzo Totaro in Rome at ltotaro@bloomberg.net

To contact the editor responsible for this story: Jeffrey Donovan at jdonovan26@bloomberg.net


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