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Friday, May 28, 2010

Italian Military Hit by 10% Budget Cut

FREMM FrigateItalian defense officials struggling to cope with reductions in their budgets are bracing for a fresh 10 percent cut delivered by an emergency debt reduction package launched by the Italian government on May 26, a spokesman for Defense Minister Ignazio La Russa said May 27.

The cuts would hit defense ministry coffers in 2011 and may also endanger the top-up funds Italy's armed forces receive from the industry ministry and other sources, a senior defense source warned.

The austerity package would also trim state wages and take other measures. In all, it is aimed to save 24 billion euros ($29.4 billion).

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