Italian austerity government full of millionaires

A high-flying lawyer and university professor, the 63-year-old owns properties in Rome and Cortina d'Ampezzo, one of Italy's most chic ski resorts, and leases a 55 feet-long 'Acqua 54' yacht.

"People who earn money and pay their taxes should not be considered sinners and should be respected, not envied," she said.

The next richest member of the technical administration was Corrado Passera, the minister for economic development, who declared earnings of more than 3.5 million euros in 2011.

He previously served as the head of an Italian bank, Intesa Sanpaolo.

Mario Monti, the prime minister, earned just over one million euros last year and owns 16 properties, including apartments in Milan and a 50 per cent share in a flat in Brussels, where he spent years as a European Commissioner.

Mr Monti, a respected economist whose sober, modest manner contrasts sharply with the flamboyancy of his predecessor, Silvio Berlusconi, declared bonds and investments worth 11 million euros.

David Cameron, the Prime Minister, earns £142,500 a year while British MPs are paid £65,738, excluding expenses and allowances.

The most unusual property portfolio belongs to Piero Giarda, the parliamentary affairs minister, who owns four timber and stone huts in the Alps.

The ministers' ample wealth contrasts with the struggles of many ordinary Italians, who face rising unemployment and dismal economic prospects as the government tries to chip away at the country's 1.9 trillion euro debt.

Around a third of young adults are unemployed.

"We certainly can't say that this is a government of paupers," said Marco Reguzzoni from the Northern League party

"I don't believe that earning a great deal is a crime. But what is worrying is that the sources of our ministers' earnings are the banks and the state."