Europe backs Monti reforms as Italy crisis hits markets |
| Reuters - Dec 10, 2012 |
European partners urged the next Italian government on Monday to stick to Prime Minister Mario Monti's reform agenda, after his decision to resign early and Silvio Berlusconi's return to frontline politics rattled financial markets.
Monti's surprise weekend announcement that he would quit because Berlusconi's People of Freedom (PDL) party had withdrawn its support for his technocrat government pushed up Italy's borrowing costs and prompted a stock market sell-off.
The campaign for an election expected in February is likely to be fought over Monti's reform agenda which Berlusconi, his predecessor as prime minister, said had condemned Italy to recession and forced him reluctantly to run for a fifth term.
By contrast European politicians and officials warned that Monti's policies must continue to prevent a return of the crisis which brought him to power a year ago, when he was charged with rescuing the euro zone's third biggest economy from the threat of a Greek-style collapse.
Read Full Article from Reuters
- Posted: 2012-12-10 11:50:13
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