Italian Prime Minister Matteo Renzi said Tuesday he found a combination of spending cuts and other offsets to allow for a 7-billion-euro (9.7-billion -U.S. dollar) tax cut this year, though reactions to the plan are giving signs that the new leader's honeymoon period may be starting to end.
U.S. President Barack Obama said during his two-day visit to Italy on Thursday that he had "confidence" in the promised reforms of Italian Prime Minister Matteo Renzi and praised improving economic situation in the European Union (EU).
Matteo Renzi's program as Italy's new prime minister focuses on all the issues Italian companies would like it to. But business leaders are only cautiously optimistic about the 39-year-old former mayor of Florence, with many saying they will take a wait-and-see attitude toward his new government.
Italy's new coalition government on Tuesday got the green light from parliament, winning the second of two confidence votes that gave full powers to Prime Minister Matteo Renzi and his team to start working on promised reforms.
U.S. President Barack Obama on Monday voiced support for new Italian leader's economic agenda and expressed hope for continued cooperation on areas of common interest.
The Italian new government won the vote of confidence in the Senate early Tuesday, after Prime Minister Matteo Renzi pledged to work for radical and immediate changes to revive the country's recession-gripped economy.
Italy's premier-designate Matteo Renzi on Wednesday said he was ready to form a new coalition government after he concluded positively consultations with political parties.
Matteo Renzi, the leader of center-left Democratic Party (PD), on Monday was asked by Italian President Giorgio Napolitano to form a new government and introduce promised reforms to revive the crisis-plagued economy.
Italy's centre-left Democratic Party (PD) asked for an urgent change of government to give a boost to reforms on Thursday, in a decision that could trigger the resignation of Prime Minister Enrico Letta.
Italian Prime Minister Enrico Letta on Monday accepted the resignation of scandal-hit Agriculture Minister Nunzia De Girolamo, making way for possible replacements in his fragile left-right government.
Matteo Renzi, the leader of Italy's center-left Democratic Party (PD), the biggest in the ruling coalition, on Wednesday played down the importance of some dissent within his party and went ahead to outline an agenda of reforms that he was urging the country's coalition government to introduce.
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