Italy's Cabinet to approve new measures Sunday

December 4, 2011 - 9:15 AM

ROME (AP) — Premier Mario Monti has called a Cabinet meeting for Sunday to approve austerity and growth measures.

Monti's office said in a statement that the Cabinet, originally scheduled to meet Monday, would convene later Sunday.

The premier has been briefing political parties, unions, business groups and consumer lobbies on his plans over the weekend. He is scheduled to brief both houses of Parliament on the measures Monday.

The head of Italy's industrial lobby said Sunday that the survival of the common euro currency depends on Italy's coming up with very strong austerity and growth measures — followed by an effort at the European level so that Italian sacrifices are not in vain.

THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP's earlier story is below.

Premier Mario Monti has called a Cabinet meeting for Sunday to approve austerity and growth measures.

Monti's office said in a statement that the Cabinet, originally scheduled to meet Monday, would convene later Sunday.

The premier has been briefing political parties, unions, business groups and consumer lobbies on his plans over the weekend. He is scheduled to brief both houses of Parliament on the measures Monday.

The head of Italy's industrial lobby said Sunday that the survival of the common euro currency depends on Italy's coming up with very strong austerity and growth measures — followed by an effort at the European level so that Italian sacrifices are not in vain.