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Super Mario unveils Italy's next government

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Super Mario unveils Italy's next government


Mario Monti, the former EU competition commissioner, on Wednesday unveiled his team tasked with reviving the Italian economy.

Italy’s prime minister-in-waiting also wants to appoint himself as finance minister.

There is not a single elected politician present in his cabinet.

The 68-year-old explained why he decided to pick his ministers from the worlds of finance, law and academia.

“The absence of political personalities in the government will help, rather than hinder, a solid base of support for the government in parliament and in the political parties because it will remove one ground for disagreement,” said Monti.

Monti said he will present an austerity budget to the senate on Thursday.

He stressed restoring economic growth in Italy was his top priority.

“I am confident that, despite these tough times, our team can give the markets peace of mind they need with regards to their view of our country,” Monti said.

Monti and his cabinet must win a vote of confidence in both houses of parliament before they can take up their posts.

Italy has endured sluggish growth for much of the decade and has a national debt of nearly 1.9 trillion euros.

Its borrowing costs have risen to record levels amid investor concern the country could struggle to meet its repayments.

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