News / Europe

Italy's PM Expects Agreement on Economic Discipline, Growth

Italy's Prime Minister Mario Monti delivers a speech at the London School of Economics, Jan. 18, 2012.
Italy's Prime Minister Mario Monti delivers a speech at the London School of Economics, Jan. 18, 2012.
Al Pessin

Italian Prime Minister Mario Monti said during a visit to London on Wednesday that he expects to reach an agreement with other European countries, including Germany, on a way out of the current economic crisis that does not involve what he sees as unsustainable financial austerity for his country.  Monti met with officials, investors and students in London.

Prime Minister Monti said the fiscal discipline being imposed on Italy and other heavily-indebted countries is important, but not enough to get the continent out of its financial and economic crisis.  He said he wants countries that follow the European Union plan to be rewarded with lower interest rates and the flexibility to take steps to promote economic growth.

Economically-strong Germany has been the driving force in the European Union, insisting on austerity and offering little in return.  But Mr. Monti told a gathering at the London School of Economics and Political Science that he sees potential for a meeting of the minds.

“I’m rather optimistic now," said Prime Minister Monti. "I see different pieces coming together, which lead me to believe that we will have some silent, quiet, I hope quiet, coming together of different pieces.”

The Italian leader is expected to meet with his German counterpart and other leaders at the next EU summit at the end of this month.  He met with the British prime minister on Wednesday and he visited the London Stock Exchange for private meetings with the managers of large investment funds - trying to convince them to invest in Italy despite its economic problems.

Mr. Monti said the countries that use the euro need to restore confidence among investors, promote economic growth and explore ways to ensure prosperity across the continent, including the creation of Euro Bonds backed jointly by all 17 EU countries.

“All this in my view requires better governance of the euro zone," he said. "And, of course, Germany is one of the key interlocutors, if not the most key interlocutor, for this.”

The Italian prime minister said he expects European leaders to reach a final agreement on new fiscal discipline rules at the January 30 summit, and he believes that will make it possible to move forward on other important issues, including economic growth, restoring investor and consumer confidence, and lowering interest rates his country must pay to borrow money.

At the end of the event, when he was presented with a cap bearing the school’s logo, Mr. Monti said:

“I hope it is also symbolic of a soon-to-come cap on interest rates," he said.

You May Like

N. Korea Sentences American to 6 Years Hard Labor

Matthew Miller's brief trial Sunday comes two weeks after 24-year old Miller and two other American detainees appealed to the US government to help free them More

Pakistan Rejects Afghan Criticism of 480-kilometer Border Trench

Military spokesman tells VOA the project is part of administrative and security measures taken to secure the mountainous border with Afghanistan More

Photogallery Typhoon Kalmaegi Makes Landfall in Philippines

Storm makes landfall late Sunday, cutting power and communications lines and forcing people to flee to higher ground More

This forum has been closed.
Comments
     
There are no comments in this forum. Be first and add one

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Scotland Independence Bid Stokes Global Interesti
X
Henry Ridgwell
September 12, 2014 8:35 PM
The people of Scotland are preparing to vote on whether to become independent and break away from the rest of Britain, in a referendum being watched carefully in many other countries. Some see it as a risky experiment; while others hope a successful vote for independence might energize their own separatist demands. Foreign immigrants to Scotland have a front row seat for the vote. VOA’s Henry Ridgwell spoke to some of them in Edinburgh.
Video

Video Scotland Independence Bid Stokes Global Interest

The people of Scotland are preparing to vote on whether to become independent and break away from the rest of Britain, in a referendum being watched carefully in many other countries. Some see it as a risky experiment; while others hope a successful vote for independence might energize their own separatist demands. Foreign immigrants to Scotland have a front row seat for the vote. VOA’s Henry Ridgwell spoke to some of them in Edinburgh.
Video

Video Washington DC Mural Artists Help Beautify City

Like many cities, Washington has a graffiti problem. Buildings and homes, especially in low-income neighborhoods, are often targets of illegal artwork. But as we hear from VOA’s Julie Taboh, officials in the nation's capital have come up with an innovative program that uses the talents of local artists to beautify the city.
Video

Video Palestinians Turn to Rebuilding Gaza

After almost two months of conflict in Gaza, Palestinians are preparing to rebuild the isolated Mediterranean enclave with assistance from abroad. Meanwhile, an international human rights group has found that Israel likely violated international laws of war during some of its attacks on Gaza. Zlatica Hoke has more.
Video

Video US Muslim Leaders Condemn Islamic State

Leaders of America's Muslim community are condemning the violent extremism of the Islamic State group in Iraq and Syria. The U.S. Muslim leaders say militants are exploiting their faith in a failed effort to justify violent extremism. VOA correspondent Meredith Buel reports.
Video

Video Middle Eastern Church Leaders Highlight Christians’ Plight

Patriarchs of Eastern Rite churches came to Washington this week to draw attention to the attacks against Christians in Syria, Iraq and elsewhere in the Middle East. VOA’s religion correspondent Jerome Socolovsky has more.
Video

Video Americans' Reaction Mixed on Obama Strategy for Islamic State Militants

President Barack Obama’s televised speech on how the United States plans to “degrade and destroy” the group known as the Islamic State reached a prime-time audience of millions. And it came as Americans appear more willing to embrace a bolder, tougher approach to foreign policy. VOA producer Katherine Gypson and reporter Jeff Seldin have this report from Washington.
Video

Video Authorities Allege LA Fashion Industry-Cartel Ties

U.S. officials say they have broken up crime rings that funneled tens of millions of dollars from Mexican drug cartels through fashion businesses in Los Angeles. Mike O'Sullivan reports that authorities announced nine arrests, as 1,000 law enforcement agents fanned out through the city on Wednesday.
Video

Video Bedouin Woman Runs Successful Business in Palestinian City

A Bedouin woman is breaking social taboos by running a successful vacation resort in the Palestinian town of Jericho. Bedouins are a sub-group of Arabs known for their semi-nomadic lifestyle. Zlatica Hoke says the resort in the West Bank's Jordan Valley is a model of success for women in the region.


Carnage and mayhem are part of daily life in northern Nigeria, the result of a terror campaign by the Islamist group Boko Haram. Fears are growing that Nigeria’s government may not know how to counter it, and may be making things worse. More

AppleAndroid