Italy to pay 2.2b euros to pensioners in August
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
[ROME] Italy will pay 2.2 billion euros (US$2.51 billion) to retirees to respect a constitutional court ruling that overturned part of a landmark 2012 reform that cut pension spending, Italian Prime Minister Matteo Renzi on Monday.
Mr Renzi's Cabinet passed a decree to make the one-off payment in August to 3.7 million pensioners, the prime minister told reporters. The majority of the funding is already set aside in this year's budget, Mr Renzi said.
Last month's court ruling has posed a major headache for the government, which has struggled to keep public finances within the limits of European Union budget rules.
REUTERS
Share with us your feedback on BT's products and services
TRENDING NOW
Autobahn Rent A Car directors declared bankrupt over S$50 million each owed to DBS
Amazon’s MGM Studios gains creative control over ‘James Bond’ franchise
UOB’s Wee Ee Cheong says S$4.9 billion Citi deal ‘paying off’ as Asean push accelerates
In taxing wealth, how far can Singapore push property owners?
