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Italy's Monti seeks more EU support

01-12-2012 10:29 BJT

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Italian Prime Minister, Mario Monti has warned that his country needs to see more concrete support from the European Union and Germany, in return for the painful austerity measures it has adopted.

Monti’s statement came as he was headed to Berlin on Wednesday, for talks with German Chancellor, Angela Merkel. This is Monti’s first official visit to Germany since taking office in November.

Italian Prime Minister Mario Monti speaks to the media after talks with German
Chancellor Angela Merkel at the Chancellery on January 11, 2011 in Berlin, Germany.

Italy is of key concern in the eurozone crisis because of its size, huge debt load and need to borrow heavily in the first quarter of 2011. The yield on Italian 10-year bonds is hovering around the seven percent level, widely considered to be a danger mark.

Although Monti’s government has adopted debt cuts and financial reforms, Italy’s borrowing rates remain dangerously high.

 

Editor:Zhang Rui |Source: CNTV.CN

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