The Italian Senators approved the austerity package set by Monti's technocratic government, in attempts to lower the Italian deficit in 2012, noting that Italy handles the largest amount of debt in the euro zone, the second highest debt-to-GDP ratio after Greece.

Italy, which handles more than 2.2 trillion euros of debt, approved the austerity package worth 30 billion euros, where the vote was expected to pass easily especially after the Prime Minster Mario Monti warned of the consequences of a failure, where he said that the without these new measures Italy might collapse. The Senate voted 257 to 41 in favor of the austerity.