Italy Asks for €11 Billion From Banks, Insurers Over Three Years
Italy's government coalition has reached an agreement that will see banks and insurers contribute approximately €11 billion ($12.8 billion) to the country's budget over the next three years. The plan is part of a broader effort by the Italian government to shore up its finances and reduce its debt burden. The contribution will be split evenly between banks and insurers, with each sector expected to provide around €5.5 billion. The government has not yet provided details on how the contributions will be structured or implemented, but it is likely to involve a combination of taxes, levies, and other financial measures. The move is likely to be met with resistance from the affected industries, which may argue that the contributions will place an undue burden on their operations and profitability.
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