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

Ebola Death Toll Nears 5,000 as Virus Advances

West Africa bears heaviest burden; Mali toddler’s death raises new fears More

Jordan’s Battle With Islamic State Militants Carries Domestic Risks

Despite Western concerns that IS militants are preparing a Jordanian offensive, analysts call the kingdom's solid intel a strong deterrent More

Asian-Americans Assume Office in Record Numbers

Steadily deepening engagement in local politics pays off for politicians like Chinese-American Judy Chu 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.
Talks to Resume on Winter Gas for Ukrainei
X
Al Pessin
October 25, 2014 4:21 PM
Ukrainian and Russian officials will meet again next week in an effort to settle their dispute over natural gas supplies that threatens to leave Ukraine short of heating fuel for the coming winter. VOA’s Al Pessin reports from London the dispute is complex, and has both economic and geopolitical dimensions.
Video

Video Talks to Resume on Winter Gas for Ukraine

Ukrainian and Russian officials will meet again next week in an effort to settle their dispute over natural gas supplies that threatens to leave Ukraine short of heating fuel for the coming winter. VOA’s Al Pessin reports from London the dispute is complex, and has both economic and geopolitical dimensions.
Video

Video Smugglers Offer Cheap Passage From Turkey to Syria

Smugglers in Turkey offer a relatively cheap passage across the border into Syria. Ankara has stepped up efforts to stem the flow of foreign fighters who want to join Islamic State militants fighting for control of the Syrian border city of Kobani. But porous borders and border guards who can be bribed make illegal border crossings quite easy. Zlatica Hoke has more.
Video

Video Comanche Chief Quanah Parker’s Century-Old House Falling Apart

One of the most fascinating people in U.S. history was Quanah Parker, the last chief of the American Indian tribe, the Comanche. He was the son of a Comanche warrior and a white woman who had been captured by the Indians. Parker was a fierce warrior until 1875 when he led his people to Fort Sill, Oklahoma, and took on a new, peaceful life. As VOA’s Greg Flakus reports from Cache, Oklahoma, Quanah’s image remains strong among his people, but part of his heritage is in danger of disappearing.
Video

Video China Political Meeting Seeks to Improve Rule of Law

China’s communist leaders will host a top level political meeting this week, called the Fourth Plenum, and for the first time in the party’s history, rule of law will be a key item on the agenda. Analysts and Chinese media reports say the meetings could see the approval of long-awaited measures aimed at giving courts more independence and include steps to enhance an already aggressive and high-reaching anti-corruption drive. VOA’s Bill Ide has more from Beijing.
Video

Video After Decades of Pressure, Luxembourg Drops Bank Secrecy Rules

European Union finance ministers have reached a breakthrough agreement that will make it more difficult for tax cheats to hide their money. The new legislation, which had been blocked for years by countries with a reputation as tax havens, was approved last week after Luxembourg and Austria agreed to lift their vetoes. But as Mil Arcega reports, it doesn’t mean tax cheats have run out of places to keep their money hidden.
Video

Video Kobani Refugees Welcome, Turkey Criticizes, US Airdrop

Residents of Kobani in northern Syria have welcomed the airdrop of weapons, ammunition and medicine to Kurdish militia who are resisting the seizure of their city by Islamic State militants. The Turkish government, however, has criticized the operation. VOA’s Scott Bobb reports from southeastern Turkey, across the border from Kobani.
Video

Video US ‘Death Cafes’ Put Focus on the Finale

In contemporary America, death usually is a topic to be avoided. But the growing “death café” movement encourages people to discuss their fears and desires about their final moments. VOA’s Jerome Socolovsky reports.
Video

Video Ebola Orphanage Opens in Sierra Leone

Sierra Leone's first Ebola orphanage has opened in the Kailahun district. Hundreds of children orphaned since the beginning of the Ebola outbreak face stigma and rejection with nobody to care for them. Adam Bailes reports for VOA about a new interim care center that's aimed at helping the growing number of children affected by Ebola.

All About America

AppleAndroid