Italy gives 'fuel' to industry with back-payment plan

Premier Mario Monti has said a package of four decrees to settle back payments the public sector owes private companies will provide Italian business with much-needed "fuel" in a time of economic recession. Monti said the government hopes the measures will enable it to pay back 20 to 30 million euros of the money ministries and local governments owe private companies supplying products and services to them. The premier told a press conference that the moves would help "companies who need fuel to switch back on the engine of productivity". The Italian public sector's debts with the private sector could run up to as much as 100 million euros, according to media reports.