Italian PM Renzi won a confidence vote to get his 2015 budget through Senate. The budget, which includes tax cuts for low earners and a reduction in labour taxes for businesses, will go for the lower house's approval next week. It is possible that the EU will demand more spending cuts in March. Italian economy fell into recession in Q3 and is likely to report negative growth in Q4 too. Tax cuts and a reduction in labor taxes should positively contribute to the economy.
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