Italy's Possible Next PM Says First Priority Is To Get Out Of The 'Austerity Cage'

Pier Luigi Bersani — the leader of Italy's liberal party (the PD) — is speaking this morning.

He's attempting to form a government. Of the main candidates in the latest election, he's the most likely to be successful, and become the next PM.

He has a good first priority.

#Italy's Bersani says he'd cut bureaucracy and size of parliament, reduce the IMU property tax. First priority: get out of "austerity cage."

— Michael McKee (@mckonomy) March 6, 2013

The idea of loosening the austerity cage is growing a bit more popular in Europe.

Yesterday Bloomberg reported that EU Commissioner Olli Rehn said it may be appropriate to loosen some deficit targets.