Important date for the diary in Italy - On....>

ITALY: Important date for the diary in Italy

- On October 24, the Italian Constitutional Court will adjudicate on the

legality of the 65/2015 'Perequazione' rules.

- When Mario Monti was PM in 2011, 'Forneri' reforms were put in place that

broke the inflation indexation for some State pensions. This was deemed

unconstitutional in 2015 and would have blown a E24bln hole in the budget. So in

2015, Renzi's government put in place a partial reform. It was complicated but

avoided the E24bln hit. However, this 2015 reform has been challenged and so the

upcoming court ruling is in reference to this.

- The decision is a couple of months away but should attract more interest

because the headline numbers involved could be significant.