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

Sydney Hostage-taker Failed to Manipulate Social Media

Gunman forced captives to use personal Facebook, YouTube accounts to issue his demands; online community helped flag messages, urged others not to share them More

UN Seeks $8.4 Billion to Help War-Hit Syrians

Effort aimed at helping Syrians displaced within their own country and those who've fled to neighboring ones More

Who Are the Pakistani Taliban?

It's an umbrella group of militant organizations whose objective is enforcement of Sharia in Pakistan 'whether through peace or war' 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.
Putin: Russian Economy to Rebound in 2 Yearsi
X
December 18, 2014 5:13 PM
Russian President Vladimir Putin held his annual end-of-the-year news conference Thursday, tackling questions on the Russian economy, the crisis in Ukraine and Russian relations with the west. VOA's Jeff Custer reports.
Video

Video Putin: Russian Economy to Rebound in 2 Years

Russian President Vladimir Putin held his annual end-of-the-year news conference Thursday, tackling questions on the Russian economy, the crisis in Ukraine and Russian relations with the west. VOA's Jeff Custer reports.
Video

Video Nigerians Fleeing Boko Haram Languish in Camp Near Capital

In its five-year effort to impose Islamic law in northeastern Nigeria, the Boko Haram extremist group has killed thousands of people and forced hundreds of thousands to flee. Some of those who ran for their lives now live in squalor on the edges of the capital, Abuja. Chris Stein reports for VOA.
Video

Video Detained Turkish Journalists Follow Teachings of US-Based Preacher

The Turkish government’s jailing of critical journalists has sparked international condemnation and is being seen as an effort to undermine the followers of an ailing Turkish preacher based in the United States. VOA religion reporter Jerome Socolovsky has more.
Video

Video Will Pakistan School Shooting Galvanize Pakistan Against Extremism?

The attack on a military school in Pakistan’s northwest city of Peshawar left 141 dead, including 132 children. Strong statements of condemnation poured in from across the world. The country announced three days of mourning, and the leadership, both political and military, promised retribution. VOA's Ayesha Tanzeem looks at how likely the Pakistani government is to clamp down on all extremist groups.
Video

Video ‘Anti-Islamization’ Marches Increase Tensions In Germany

Anti-immigrant rallies in Germany have been building in recent weeks, peaking Monday night in the city of Dresden where tens of thousands of people turned out to demonstrate against what they call the ‘Islamization’ of the West. Germany has offered asylum to more Syrian refugees than any other country, and this appears to have set off the protests. Henry Ridgwell reports from London.
Video

Video Aceh Rebuilt Decade After Tsunami, But Scars Remain

On December 26, 2004 there was an earthquake in the Indian Ocean so powerful it caused the Earth’s axis to wobble a few centimeters. Onshore on the island of Sumatra, the resulting tsunami was devastating. A decade later, VOA Correspondent Steve Herman reports from Banda Aceh, Indonesia, where although there is little remaining evidence of the physical devastation, the psychological scars among survivors remain.
Video

Video Refugees Living in Kenya Long for Peace in the Home Countries

Kenya is host to numerous refugees seeking safe haven from conflict. Immigrants from Somalia face challenges in their new lives in Kenya. Ahead of International Migrants Day (December 18) Lenny Ruvaga has more for VOA News from the Kenyan capital.
Video

Video Turkey's Authoritarianism Dismays Western Allies

The Turkish government has been defiant in the face of criticism at home and abroad for its raids targeting opposition media. The European Union on Monday expressed dismay after President Recep Tayyip Erdogan lashed out at Brussels for criticizing his government's action. Turkey's bid to be considered for EU membership has been on hold while critics accuse the NATO ally of increasingly authoritarian rule. Zlatica Hoke reports.

All About America

AppleAndroid