Italy...

It seems Berlusconi has announced a new austerity plan and it's not going over well with the populace.


Here are some bullet points

• Plan to to include higher retirement age for women from 2014
• To add 3% tax on income over 500k euros
• Italy to approve constitutional law for budget balance Sept
• To increase VAT from 20% to 21%.

"Protesters in Italy scuffled with police, burned flags and threw eggs and smoke bombs at banks on Tuesday in what they said could be a taste of escalating public disorder as public spending cuts bring pain to families."

More to follow...