Despite Italy’s borrowing costs still teetering at dangerous levels, new Prime Minister Mario Monti has insisted he can turn his debt stricken nation’s fortunes around. Visiting Brussels for the first time since his appointment, Monti said with EU help, Rome could win back investor confidence.
‘‘Europe doesn’t constrain us. Europe offers guidance. That is in Italy’s interest and especially the interest of Italy’s future generation,’‘ Monti said.
Monti’s new government of techocrats has said it aims to balance the budget by 2013 through a raft of austerity measures. But Mario Telo, the Vice-President of the Institute of European Studies based in Brussels, told euronews that it was important that leaders like Monti are able to get the backing they need to pass such reforms.
‘‘A new kind of European leader is beginning to emerge. It’s important that this tendency is based on a very strong internal credibility. In the sense that it’s not just talk, but they actually put their programme into action,’‘ Telo said.
Reporting from the European Commission euronews’ Margherita Sforza said: ‘‘If Mario Monti succeeds in putting Italy’s economic house in order, he will be able to sit at the same table as France and Germany, and discuss issues such as eurobonds and how to reinforce the euro zone’s emergency rescue fund. He will have a chance to talk with Angela Merkel and Nicolas Sarkozy in Strasbourg on Thursday.’‘