Italy crisis: Austerity plan announced

The Italian cabinet has approved a range of austerity measures to try to tackle its debt crisis.

Taxes on the assets of the wealthy will go up, as will pension ages. There will be a major drive to tackle tax evasion.

Prime Minister Mario Monti said the measures were necessary to "save Italy", and announced he would give up his own salary as part of the effort.

Elsa Fornero, the Minister of Labour and Welfare, broke down as she tried to explain the impact of the measures. Will Grant reports.