Italy promised European Union partners on Wednesday a package of reform steps to boost growth and control its public debt, including labour and pensions reforms and additional revenues from property divestments.
In a letter sent to an EU summit in Brussels , the government said it would put forward a firm plan of action to boost growth by Nov. 15.
It promised measures to cut red tape and modernise state administration to improve conditions for business.
It also said the minimum age for old age pensions would be raised in gradual steps to 67 years for both men and women by 2026.
The letter also promised to raise 5 billion euros a year from divestments and improved returns from state property.
So in effect, the URGENT call to Italy Sunday night to get pension reforms underway won't be fully implemented until 2026 at which point the Euro as well as the European Union will likely no longer exist and World War 3 should be wrapping up on the European continent.
So much for urgency.
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