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Transcript

00:00:01
>> As Italians prepare to bury the 13 victims of the Genoa bridge collapse, rescuers are searching for the 10 to 20 people who may still be missing. The populus government which took power in June has been quick to blame
UNKNOWN]
the bridge operator and previous governments. And it's squaring up for a battle with Brussels to ease spending caps so it can pour money into improving Italy's infrastructure.
00:00:24
But, as Reuters Steve Scheer reports, mudslinging will be the easy part.>> This government's pushing for deficit spending, mainly for tax cuts and for a pension reform, and for a citizens income. So they're already pushing for really huge spending increase next year, one that Europe probably will not accept, at least not all of what they promised.
00:00:47
And if you add to that infrastructure, I think you're setting up a real battle in Europe, in Brussels about how much the government can spend now, having such a huge debt already. Italy has one of the world's largest debts. It has the second largest debt as a percentage of its output in Europe.
00:01:06
There has been a large decrease in public investments in the last ten years, mainly because of the economic down turn. Public investment's down about 30% in the last two years. A lot of the infrastructure situations gonna be dependent on how much the government decides to invest going forward.
00:01:23
Just monitoring Italian infrastructure is estimated to cost something like 2.5 billion a year and Italy's spending less than that, or has been spending a lot less than that. So the Five Star Movement, one of the parties in government, has risen to power basically campaigning against corruption. So one of the upshots of their election has been that they've been very skeptical about new infrastructure because they're afraid that who builds it will line their pockets just as has happened many times in the past in Italy.
00:01:55
Their partner in government is the league, they believe in infrastructure investments, and they're pushing for them now. So the government itself is going to have to find a compromise. There could be, I guess, a positive result if they can get the European Union to allow them to spend more money.
00:02:13
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