Domenica, 23 Settembre 2018
BERLIN

Merkel says Italy taking right measures to deal with crisis

English
© ANSA

(ANSA) - Berlin, August 29 - Italy's fiscal and economic
reforms are sure to yield benefits for the country, German
Chancellor Angela Merkel said Wednesday following a meeting with
Italian Prime Minister Mario Monti.
And that, she added, should lead to further reductions in
Italy's "very high" borrowing costs.
"The spread between the (German) Bund and (Italy's) BTP is
very high, but the Italian government bond auction has given
hope: the Italian government headed by Mario Monti is making a
significant contribution, which means that the spread will
fall," said Merkel at a press conference in Berlin with Monti.
Their meeting came at the same time the Italian Treasury
sold six-month bonds at their lowest rates since March.
But, added Merkel, Italy must continue its efforts to
improve the country's economic competitiveness.
Monti agreed progress is being made but said that's no
excuse to stop now.
"The efforts of improving economic policy must be
persistent, you cannot stop with a semblance of a good result,
but we must go forward with determination," said Monti.
The same can be said at pan-European level, where more work
is needed, he added.
Progress has been against the sovereign debt crisis, "but
you cannot stop there."
Merkel also called for greater economic integration among
European economies and decision-makers.
"We are convinced that the path we have chosen is the right
one," she said.
"We are also convinced that we must improve the ability to
cooperate within the euro zone over the next months," working
with key agencies including the European Central Bank and the
European Union.
Later, Monti said he appreciated the support his reforms
have received from Italy's main political parties.
"I am pleased and grateful for the sense of
responsibility," parties have taken in supporting his work, said
Monti.
Italy's three main political parties "have been able to
demonstrate the ability to ensure support for the government
action in a difficult situation."

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