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February 8th, 2012
New Italian Prime Minister – Mr. Mario Monti

Mr. Mario Monti took over as Italy’s new prime minister and finance minister today as he formed a technocratic cabinet to rescue the eurozone heavyweight from bankruptcy.

The former European commissioner said his new team would focus on coordinated initiatives for economic growth and development, as he announced he had formally accepted the nomination to replace Silvio Berlusconi.

Monti, who is due to be formally sworn in at 1600 GMT, also said he would outline his economic programme on Thursday with intense pressure from financial markets and international leaders to act speedily to implement reforms.

The new government will go to a confidence vote in parliament on Thursday.

He also added that they have had many signals of encouragement from their European partners and the international community.