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Italy's parliament gives final backing to austerity plan

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Italy's parliament gives final backing to austerity plan

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Italy has given the final green light to a 48 billion euro austerity package to bring its economy back from the brink.

The lower house of parliament backed a motion of confidence in the government, a move that amounts to supporting the passage of the plan.

The mix of spending cuts and tax raising measures will be formally approved later today, having been passed by the Senate on Thursday.