08/12/2011 09:28 am ET Updated Oct 12, 2011

Italy eyes tax hikes as cabinet meets on crisis

ROME (Reuters) - Italy's cabinet has approved an emergency decree containing austerity measures aimed at balancing the budget in 2013, a government source said.

The government adopted the measures in response to calls from the European Central Bank for it to accelerate its balanced budget target, previously set for 2014.

(Reporting by Roberto Landucci)