Tags: EU | Italy | Financial | Crisis

Economist Monti Tapped to Head Italy's New Govt

Sunday, 13 Nov 2011 02:27 PM

 


ROME — Italy's new premier-designate economist Mario Monti says he will get to work quickly to try to form a new government, assuring the nation that it can heal its disastrous finances.

Monti told reporters Sunday night he will carry out the task "with a great sense of responsibility and service toward this nation." He added that Italy must "heal its finances" and resume growth because today's leaders owe it to future generations.

The former European Union competition commissioner received the formal mandate from President Giorgio Napolitano. Monti must now draw up a Cabinet, lay out his priorities and see whether he has enough support in Parliament to govern effectively.

Hours earlier, Silvio Berlusconi's party gave its crucial appproval for Monti to assemble a government, but insisted that it last only long enough to implement urgently need economic reforms. Berlusconi resigned reluctantly on Saturday, bowing to market pressures.

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