Italy could be rocked by the same sort of general strikes that paralysed Greece if planned government cuts to bolster its economy go ahead, a major union warned today.

Italian shares rose today, 24 hours after the announcement of 24 billion euros in cuts designed to prevent the country from falling prey to market turmoil.

But Guglielmo Epifani, leader of the CGIL labour confederation, said the cuts penalised workers while not touching high earners and did little to stimulate the economy.

"I would have expected fair cuts, but it seems to me we aren't there: The cuts are all concentrated on workers, the same old recipe that leaves out high earners, while there seems to be little on the stimulus front," he said.

Mr Epifani raised the possibility similar general strikes to Greece.

The Italian cuts are among austerity measures under way across Europe to soothe markets and avoid another near-default like Greece's.

The EU has had to agree to make 1 trillion dollars available in loans and guarantees to backstop governments that may run into trouble paying.

The Italian government said that the measures, which take effect in 2011-2012, were focused on reducing public spending for both Italy's highly paid politicians and public administration as well as on fighting tax evasion, a major revenue drain.

The cuts call for a three-year wage freeze for public workers and pay cuts for highly paid public servants and ministers. There also are measures to reduce bureaucracy, help the underdeveloped south and crackdown on those falsely receiving disability benefits.