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Monti calls on EU to do more to boost growth

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Monti calls on EU to do more to boost growth

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European leaders must do more to boost growth, according to Italian Prime Minister Mario Monti.

He said that once new budget rules are in place on fiscal discipline, the 26 EU leaders involved must focus on how to use economic governance effectively.

Britain has decided to stay outside of any new deal.

“We have to exploit the full potential of an integrated continent to grow more. And this has not been done up until now. It has not been done by the European institutions or by the biggest member states”, he said.

Yesterday, the former European commissioner met with German Chancellor Angela Merkel, who praised Monti’s debt-cutting efforts.

His technocratic government pushed through an austerity budget after coming to power in November.

Former leader Silvio Berlusconi was forced out by a parliamentary revolt amid investor panic over Italy’s finances.