Mario Monti explains why the eurozone rescue plan is not yet working [arabianmoney]

Mario Monti, Prime Minister of Italy, spoke with Bloomberg Television’s Erik Schatzker in New York today about considering another term after elections. He discussed why the EU’s new bailout fund hasn’t been used yet, saying ‘because it is being finalized. And in particular I think there is still some refinement ongoing on the precise nature and modalities of the conditionality that would have to be associated to the European Central Bank intervening in the markets to buy the bonds of a specific country.’

Monti also said that his biggest fear is that ‘the political leaders of Europe do not involve enough attention to coping with the increasing resentments of one country vis-a-vis another country of the increasing attitude of nationalism, the many backlashes against integration that are there.’

Monti on why he clarified a potential second term in office earlier today:

‘I don’t think it’s a change. I confirm that I will not run for elections. And that is for two reasons. One I want to stick to my position of being outside, I don’t say above, but outside the parties. And secondly, people go to elections, become members of parliament. I am already a member of parliament being senator for life.’


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One Response to Mario Monti explains why the eurozone rescue plan is not yet working [arabianmoney]

  1. Crack123 says:

    Middle Class? Here’s What’s Destroying Your Future. Real situation and perspectives for SPAIN and ITALY in 3 charts (written in Spanish) –

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