Italian union raises threat of national strike.
Italian shares rose 24 hours after the announcement of 24bn euros in cuts designed to prevent the country from falling prey to market turmoil. But Guglielmo Epifani, leader of the CGIL labour confederation, said the cuts penalised workers while not touching high earners, and did little to stimulate the economy.
He declared: "I would have expected fair cuts, but it seems to me we aren't there. The cuts are all concentrated on workers, the same old recipe that leaves out high earners, while there seems to be little on the stimulus front," he said.
Mr Epifani raised the possibility of similar general strikes to Greece.