Posted on 06/13/2012 4:10:06 PM PDT by Olog-hai
Italian Prime Minister Mario Monti has said his country does not need a bailout, even though its borrowing costs have soared amid contagion from Spain, whose recent bailout has failed to calm markets.
"Italy, even in the future, will not need aid from the European Financial Stability Fund," Monti said in an interview with the German Public Radio ARD on Tuesday (12 June).
He called on investors and market analysts "not to be governed by clichés or prejudices" and argued that his country has left its "undisciplined" past behind and is doing more to put its house in order than many other European countries.
He spoke as Italy's borrowing costs went above six percent on Tuesday, while Spain's reached almost seven percent.
The figures indicate that markets are unimpressed by the €100 billion ($125 billion) bailout secured last weekend for its ailing banks.
In a separate press conference that day, Monti refuted claims by Austrian finance minister Maria Fekter that Italy is the next in line for outside rescue.
"I find it completely inappropriate that representatives of other governments in the European Union are talking about the situations of other countries," he said. …
The former EU commissioner was appointed last year to take over the government and initially won EU praise for quickly implementing reforms. But a deepening recession, high debt and low productivity are putting Italy on the same track as Spain. …
(Excerpt) Read more at euobserver.com ...
Which is what Spain was saying 1week ago.....
Right. They all start out with this lame denial.
We don needa da money. We only gotta paya the Berlusconi regazza.
Ulsterman’s Wall Street insider has said that Italy is the one to watch out for, not Spain.
WHI site says watch Italy. If it goes all hell breaks loose.
WHI? What site is that?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.