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Italy vows to show finances are under control

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Italy vows to show finances are under control

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After emergency cabinet talks on fresh reforms demanded by EU partners, Italy is pledging to present firm proposals at Wednesday’s summit.

But premier Silvio Berlusconi has hit back at those putting him under pressure, saying no country in the bloc is in a position to give lessons to others.

Defending Rome’s record, he says Italy has taken steps to shore up its public finances. He also reiterated that the budget will be balanced by 2013.

But Berlusconi’s room for manoeuvre is threatened by opposition from his Northern League coalition partners on the key issue of pension reforms