Monti’s realism and a reduction in income tax – The Italian government approved the stability pact and the day after (October 11), the foreign press turned its attention to what was called the “surprise” measure: the reduction of income tax rates (IRPEF) for incomes under 28 thousand euros a year. Les Echos – Mario Monti annonce une baisse inattendue des impôts des plus bas revenus*; The Economic Times – Italy Prime Minister Monti announces surprise income tax cut; Wall Street Journal – Monti unveils surprise tax cut; The Independent – Italian low-paid workers handed income tax cut). The measure, as the Financial Times wrote in an editorial, was a demonstration of “Monti’s realism” (Financial Times – Monti’s realism*) as well as an effort to fight the recession (Publico – Mario Monti tenta limitar recessão com “alívio moderado” da carga fiscal). In addition, the income tax reduction that the Rome government announced has become a model even in Germany, where Chancellor Angela Merkel announced tax cuts to stimulate recovery (October 12, ABC – Merkel sigue la estela de Monti y planea bajar los impuestos; Le Figaro – Merkel et Monti veulent baisser les impôts pour relancer la croissance). Finally, for a complete picture of the Italian economy, international papers reported on the good results of treasury bond auctions which were unaffected by the downgrading of Spanish ratings (October 11 1nd 12, China Post, Italy’s borrowing costs generally lower in 6-billion-euro bond sale; Valor Economico – Itália oferece juro menor em venda de títulos da dívida*; Handelsblatt – „Das war eine sehr starke Auktion“ )
Economy, fashion and important people – Together with the tradition attention to economic policy, the foreign press reported on other news about the presence of Italian businesses, brands and political figures in the world. Les Echos and La Tribune announced Eni’s plans for growth in the France’s retail gas market (October 8, Les Echos – Le pétrolier italien ENI relance son offre de gaz naturel pour les particuliers en France*; La Tribune – Altergaz se rebaptise ENI pour mieux conquérir les particuliers), while Brasil Economico ran an article on fashion and the rebirth of teh Schiaparelli brand thanks to the work of Diego Della Valle (October 9 – Grife Schiaparelli, rival de Chanel, ressurge em Paris*). Finally, there was interest in the new job of Romano Prodi: the former head of the European Commission was also appointed as an emissary of the United Nations in the difficult area of Sahel (October 10, Les Echos – Romano Prodi nommé émissaire de L’ONU pour le Sahel*; Le Figaro – Romano Prodi chargé de mission au Sahel par l’ONU).
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