Monti's moves praised by Cameron

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Monti's moves praised by Cameron

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Italian Prime Minister Mario Monti has been meeting his British counterpart David Cameron during the latest in a series of visits to European capitals as he tries to convince the world Rome is serious about getting its public finances in order.

Cameron said what Monti is doing is good for Italy’s short and long-term financial health: “We’ve focused a lot in the European Union about

fiscal deficits — and of course that is important — but we also need to look at current account deficits, we need to look at competitiveness and that is where the single market reforms — the changes that Prime Minister Monti and I have been discussing — are so important.”

Monti also met with around 100 senior London bankers and investors at an event organised by the London Stock Exchange gauging the mood of the market and hoping to convince them Italian government bonds are worth buying.

He told them Italy has no plans to sell off any state-owned assets right now as they would not raise enough money in the current economic environment.