Italy's Lawmakers Rush $99 Billion Austerity Plan After days of market turmoil, the Italian Parliament is rushing approval of an emergency budget to try to reassure international investors that Italy — the world's seventh-largest economy — will not be overwhelmed by the sovereign debt crisis.

Italy's Lawmakers Rush $99 Billion Austerity Plan

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NPR's Sylvia Poggioli reports.

SYLVIA POGGIOLI: Mr. GIULIO TREMONTI (Finance Minister, Italy) (Italian language spoken)

POGGIOLI: Anna Finocchiaro, a leader of the opposition Democratic Party, said Berlusconi should get the message.

ANNA FINOCCHIARO: (Foreign language spoken) (Through Translator) And now, you should at least have the dignity and sense of responsibility to hand in your resignation.

POGGIOLI: Daniel Gros, director of the Centre for European Policy Studies in Brussels, says Italy is too big to fail.

DANIEL GROS: Italy is the final domino which would basically destroy the entire EMU, the entire Euro area, if Italy were to fall.

POGGIOLI: Sylvia Poggioli, NPR News, Rome.

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