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BRUSSELS (Reuters) – Italy’s new prime minister Mario Monti said on Tuesday he is committed to turning around the country, but he offered no new details on how he will deliver broad reforms to invigorate the euro zone’s third-largest economy.
Speaking following his first meetings in Brussels since taking office, Monti said he was determined to win back investor confidence, after Italy’s short-term borrowing costs have surged to levels seen as unsustainable, striking the 17-nation euro zone at its core.
“We can get to the bottom… to the heart of structural reforms in Italy,” Monti said, flanked by European Commission President Jose Manuel Barroso.
“As far as the issue of public finances goes, I’ve already said a couple of minutes ago that, in general terms, we’ll respect the commitments undertaken by my government,” Monti told a news conference.