Irish households suffer most severe wealth cuts in Europe
According to an Irish Central Bank study of wealth destruction in 14 European countries. In the three years to the end of 2010, Irish household net wealth fell 23% when measured as a proportion of disposable income. Denmark experienced the second largest fall in household wealth, at 17%, followed by Spain at 13%.
In the wake of an investigation into the abuse of public funds by members of his entourage, the founder and leader of the Northern League, Umberto Bossi, has resigned from his post as secretary of the populist pro-autonomy party.
The government plans to analyse the level of dependence on unemployment benefit, with a view to cutting back on payments. Amounts and entitlement periods have already been reduced, but both the government and the EU-IMF-ECB troika want further measures.