Lunedì, 24 Settembre 2018

Monti tries to calm markets, leaders on Italy's future


Rome, December 10 - Italian Premier Mario Monti on
Monday attempted to calm markets worried that Italy would
backpedal on reforms aimed at bringing its debt under control.
Investors fled from the Milan Stock Exchange Monday,
driving shares down by over 3%, following Monti's announcement
Saturday that he would resign once next year's budget had been
Meanwhile, in a sign of the difficulties facing the
country, the spread between Italy's 10-year government bonds and
their German equivalent spiked upwards Monday after declining
gradually over the past months.
Earlier Monday, Monti warned against reading too much into
the oscillations of the market, saying that people should not
"dramatise the reactions" to his resignation announcement.
Investors - and international leaders - reacted nervously
to Monti's resignation, worrying that the international
credibility he restored to Italy was at risk.
Speaking from Oslo, where the European Union was receiving
the Nobel Peace Prize, the outgoing premier said later that
"markets shouldn't fear a decision-making vacuum" in Italy.
From Oslo, Monti said that Italy faced several "challenges"
in its quest to achieve higher growth and employment.
The challenges will be "particularly intense2 for those
"who like Italy, in the past, unfortunately waited too long to
tackle the imbalances in public finances".
Newspapers and pundits Monday speculated about whether
Monti would somehow seek to remain involved in Italy's politics.
Were he to run for office, Monti would have to make his
intentions clear soon, given the relatively short timetable
leading up to new elections expected in February.
However, some reports suggested the respected former
European commissioner might serve as a member of a centre-left
government, should Italy's Democratic Party (PD) win the
upcoming elections.
"In this past year Monti and Bersani have understood each
other well. I am certain that they will find the best solution,"
Enrico Letta, the PD's second in command, said Monday referring
to the working relationship between Monti and PD leader Pier
Luigi Bersani, who will represent the party at elections.
On Monday, Bersani said Monti should not seek office this
time around.
"In the future I think it will be possible to have a
relationship with Monti in the name of Italy, (but) it would be
easier if Monti remained out of the electoral contest," Bersani

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