ITALY'S BONANNI SAYS 'ITALY ON VERGE OF COLLAPSE' -- ANSA!!!

(ANSA) - Rome, June 12 - Recession-hit Italy's economic and social situation is on the "verge of collapse" and needs decisive measures, CISL trade union leader Raffaele Bonanni said on Wednesday.

Bonanni said at the union's 17th annual congress opening that the country needed "a fiscal shock" to bring it back to life.

The country's struggle with high taxes remains one of its principle challenges to overcome for economic recovery to take hold, Bonanni said on Wednesday.

The "mother of all battles, the mother of all our troubles, remains the tax issue. We need to reduce income and labor taxes," Bonanni said. The leader of the country's second largest union emphasised that companies investing and hiring young people and the unemployed also need a tax break.

This would give a "strong boost to the economy and consumers," he said. Bonanni also encouraged Premier Enrico Letta's left-right government to create family allowances and tax credits for low wage earners.

"Resources come from flexibility. "The government must stop further increases in local taxes...and coordinate national and local taxation while increasing the penalties for tax evaders," Bonanni said.

Russian Market‏@russian_market1 min
What I missed so far: Italy still collapsing, Greek party threatens non-confidence vote to Samaras and I am still on my vacation!

bros , that man never work a day in his life.....

Oh yes... we all need of that fucking stupid man to know that
Italy is collapsing!!!!
What a fucking genius... Bonanni please you're invitated in Loreto square in Milan!!!

Live Squawk‏@livesquawk2 min
EU Source: Possibilities Of A New Greek Haircut 'Do Not Exist'; May Consider Other Form Of Relief For Greece In 2014 - MNI

At least an official speaking out the truth. Not many out there.

:hitler:

ITALY OR SPAIN ARE NOT GREECE...

zerohedge‏@zerohedge2 min
Wow - Italy Cabinet to Pass Decree to Stem Overcrowding in Jails: Ansa, will free up to 4,000 inmates.