Brussels, 12/07/2012 (Agence Europe) - On Thursday 12 July 2012, the Italian Senate ratified the European budget pact, which will now go to the Chamber of Deputies for formal adoption, a process expected to be smooth because the main parties are in agreement. The Senate adopted the pact by 216 votes to 24 with 21 abstentions after a brief protest by Northern League populist MPs brandishing a banner: “Yes to people's Europe, No to bankers' Europe”. No date has yet been set for the pact's passage through the Chamber of Deputies, although the government wants it to be passed before the summer break (which traditionally starts on 1 August). The European Fiscal Compact was agreed by most EU leaders at a summit on 30 January 2012 to step up budget discipline in the wake of the debt crisis by the introduction of “golden rules” for a balanced budget. It will come into force as soon as twelve countries have ratified it. (LC/transl.fl)