Bloomberg News

Monti Pushes to Make Good on Pledge to Ease Italian Firing Rules

June 21, 2012

Italian Prime Minister Mario Monti, seeking to return his country to growth and make good on his pledge to liberalize the economy, is pushing parliament to pass a bill to ease firing rules.

“The vote could come between Tuesday and Wednesday,” June 26 or June 27, said Elsa Fornero, Monti’s labor minister, today in a press conference in Luxembourg. “I, too, hope parliament will soon approve a reform that has many positive aspects and is on the whole balanced.”

Monti is urging lawmakers to give companies more flexibility to hire and dismiss workers as Italy sinks deeper into its fourth recession since 2001. His draft law was signed by President Giorgio Napolitano in April. Fornero said that month that the details would be worked out by the government and the state pension agency by June 30.

The final vote is expected on June 27, according to the parliament.

Italy’s economic growth has lagged the euro-area average for more than a decade and will contract 1.4 percent this year, according to a forecast by the European Commission.

To contact the reporter on this story: Andrew Frye in New York at afrye@bloomberg.net.

To contact the editor responsible for this story: James Hertling at jhertling@bloomberg.net


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