Italian premier Matteo Renzi presents tax cuts

Italian Prime Minister, Matteo Renzi, talks during a press conference at Chigi Palace in Rome, Italy, 12 March 2014. Renzi presented 10 billion euros in income tax cuts on Wednesday, saying it was a move of a "historic dimension". He said the cuts would take effect from May and would benefit "10 million Italians" who will have 80 euros a month more net in their pay packets on average. ANSA/MAURIZIO BRAMBATTI

Italian Prime Minister, Matteo Renzi, talks during a press conference at Chigi Palace in Rome, Italy, 12 March 2014. Renzi presented 10 billion euros in income tax cuts on Wednesday, saying it was a move of a "historic dimension". He said the cuts would take effect from May and would benefit "10 million Italians" who will have 80 euros a month more net in their pay packets on average. ANSA/MAURIZIO BRAMBATTI