Letta to discuss his growth program with Merkel today

FXstreet.com (Barcelona) - New Italian PM Enrico Letta is due to travel to Berlin today in order to hold talks with German Chancellor Angela Merkel. The German and Italian leaders are expected to discuss Letta’s economic growth plan, which was approved yesterday by the Italian parliament.

The program is aimed at reversing the austerity measures, introduced by Mario Monti’s government. In his first official speech delivered yesterday before the parliament Letta said that “Italy is dying from austerity alone” and that “growth policies cannot wait.”

His propositions, directed at boosting growth, include reducing taxes for businesses, consumers and homeowners. Letta did not explain however how he plans to fund the tax changes.

This week Letta will also travel to Paris and Brussels in order to meet other European officials.