- Italian Prime Minister Matteo Renzi has proposed cutting taxes by up to €10B and to reform the labor market as part of an attempt to revive his country's moribund economy and reduce unemployment of a record 12.9%.
- The government will reportedly pay for the tax reductions by lowering spending, including by cutting the number of Lockheed Martin (LMT) F-35 jets that the armed forces will buy.
- Meanwhile, the lower house of parliament is set to pass an electoral reform bill designed to make Italy more governable, including by increasing voting thresholds.
- The FTSE MIB is -0.2%.
- ETFs: EWI, ITLY, ITLT
at Zacks.com (Nov 18, 2014)