Prime Minister Mario Monti is asking Italians to swallow 30billion euros ($40 billion) in additional emergency economicmeasures even as the nation's fifth recession in the last decadelooms next year.

Monti, whose Cabinet approved the package yesterday, is due topresent the plan to the legislature at 4 p.m. in Rome, withParliament voting on it in the coming weeks. The premier has vowed“shared sacrifices” to cut the euro area's second-biggest debt andregain investor confidence after Italian borrowing costs topped the7 percent that led Greece, Ireland and Portugal to seek aid.Italy's 10-year yield declined 52 basis points to 6.16 percent, itsbiggest drop in four months.

“The huge public debt of Italy isn't the fault of Europe, it'sthe fault of Italians,” Monti, who took over last month afterformer Premier Silvio Berlusconi resigned, told a news conferenceas he detailed the package yesterday. “Together, we will makeit.”