The Monti government approved measures "particularly important", which "will improve Italy's economic prospects". At this point, it is up to the "main countries of the Eurozone to do their part to stabilize the single currency". These are words of appreciation pronounced by the German chancellor, Angela Merkel, towards the Italian prime minister, who is visiting Berlin today.
"We have agreed that Italy, France and Germany will meet in Rome on January 20 to continue the collaboration already underway", continued Merkel during the press conference that followed the meeting. In any case, the "smaller eurozone" national economies will not be excluded from the dialogue. Furthermore, according to the chancellor, "we need to find a reasonable solution for Greece in order to then commit ourselves to structural measures to be applied".
MERKEL: GERMANY WILL INCREASE CAPITAL IN ESM IF OTHERS DO SO TOO
Finally, Merkel gave her country's willingness to pay more capital into the new ESM state-saving fund, "provided that the others do so too". In today's meeting, the way in which the ECB can give its contribution to "making operational" the European fund was also discussed.
MONTI: HIGH INTEREST RATES NO LONGER JUSTIFIED
The Italian premier received the chancellor's compliments, underlining that, at this point, the stellar yields on Italian debt "are no longer justified". The Italians "and I with them - added the Professor - hope that there may be a reduction in interest rates on the financial markets", now that "the markets themselves, with many declarations, have said they appreciate what Italy is doing ”.
MONTI: ITALY IS NO LONGER AN INFECTION
In short, "we expect from Europe, of which Italy is a part, the implementation of those mechanisms that facilitate the transformation of good policies into more reasonable interest rates". In short, not "rewards", but the "recognition" that Europe "no longer has to fear Italy as a possible source of infection for the eurozone". Europe "can count on an Italy ready to play its full part in leading the EU towards stability".
MONTI: Okay TOBIN TAXBUT I DON'T KNOW IF IT WOULD ONLY MAKE SENSE IN THE EUROZONE
As for the Tobin tax, Monti reiterated Italy's support for the project, specifying however that "it wouldn't make much sense" in a single country, "at least not in Italy". Even if the best solution would be to introduce it globally, "it may make sense in the Europe of 27: I don't know if it would make sense at the eurozone level".
