Italy has taken "decisive action" with plan to cut deficit, sarkozy says

Italy has taken "decisive and rigorous action" with new plans passed on Aug. 12 to cut its deficit and balance its budget by 2013, French President Nicolas Sarkozy said in a telephone call with Prime Minister Silvio Berlusconi, the Italian government said in an e-mailed statement today.

Sarkozy and Berlusconi had a “long and cordial telephone call” and Sarkozy gave “words of appreciation” for the “speed with which the measures have been adopted,” according to the statement.

Source: Bloomberg