ROME (AFP) ? Italy will adopt a wide-ranging pact for economic growth by September, Prime Minister Silvio Berlusconi said on Thursday following talks with trade unions and the main employers' federation Confindustria.
The plan will include constitutional enforcement of balanced budgets, social welfare and labour market reforms, privatisations, an acceleration of public infrastructure projects as well as cuts to bureaucracy, he told reporters.
"We want to adopt a comprehensive pact between the government and social players absolutely by September," Berlusconi said, after trade unions and big business presented a list of demands to boost Italy's sluggish economy.
Berlusconi said the introduction of a constitutional provision for governments to keep balanced budgets in Italy would be a "historic" change.
Economy Minister Giulio Tremonti said the reform would be "complex".
Confindustria chief Emma Marcegaglia, speaking at a joint press conference with trade union leaders earlier, said the government had to act "urgently".
"We have asked that all this should be adopted urgently," she said, adding: "We are waiting to see if this will be adopted with the urgency that we feel."
Italy has been under heavy pressure on financial markets because of its high public debt, low growth and tensions within Berlusconi's centre-right government.
Some investors are concerned that Italy will follow Greece, Ireland and Portugal into a debt spiral that could force it to seek a bailout.
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