Bloomberg News

Monti Win’s Second Confidence Votes on Labor Market Reform

June 26, 2012

Prime Minister Mario Monti won a second confidence vote on parts of his labor-market reform that will allow for final passage of the measure tomorrow before the start of the European summit on June 28.

Monti won both votes in the lower house of parliament in Rome by a margin of more than 300 as the coalition of competing parties that back his unelected government held together. There will be a further two confidence votes tomorrow morning with a final ballot on the entire law due in the afternoon.

The labor package includes incentives to support the hiring of young people and women and gives companies more flexibility in firing workers. The legislation also introduces a new system of unemployment benefits that will cover a broader pool of workers than under current rules.

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

To contact the editor responsible for this story: Andrew Davis at abdavis@bloomberg.net


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