Monti plays down fear Italy will stop reforms

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Monti plays down fear Italy will stop reforms

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Italian Prime Minister Mario Monti appeared calm among other European leaders who were in Norway receiving the Nobel Peace Prize. With the financial markets rattled over his surprise early resignation, he refused to show any alarm.

Instead he played down fears that Italy will put a break on reforms needed to bring its debt under control.

“I am very confident that the Italian elections when they come will give room to whatever the coalition or government will there be, will be in my view a highly responsible EU oriented government,” said Italy’s prime minister.

By contrast Silvio Berlusconi appeared far more irritated and rejected that market reaction was due to his intention to contest the premiership.

“The markets have suffered because of the current situation. We must change politics, we cannot go on with this Germano-centered politics that was adopted by Monti’s government of technicians,” he told journalists.

With opinion polls suggesting Berlusconi has little chance of re-election the markets can take solace from the fact that the centre-left Democratic Party under Pier Luigi Bersani holds a strong lead and backs Monti’s agenda.