Monti hits back at Berlusconi

February.
“Interrupting a reform before it yields results is worse than not doing it at all,” Monti said in a speech at a motor vehicle sector conference in Rome, after European leaders praised his efforts in just over a year in government.

The former European commissioner and economics professor also accused Berlusconi’s previous government, which he replaced in November 2011 with an unelected technocratic cabinet, of “leaving a lot left to be done”.

“That is why whoever wins the elections will have to try and continue reforms,” he said, adding that bolstering Italy’s credibility on the international stage was important in encouraging its export potential.

“A credible country is the best partner for those who have the courage to push the frontier of their activities beyond the national border,” he said.

Monti also stressed that his efforts to lower Italy’s borrowing costs on the markets were “an essential prerequisite to re-launch credit for companies”.

Berlusconi on Tuesday said Monti was “too German-centric” and said the bond spread — a key measure of the difference between Italian and German bond yields — was “a trick and an invention” used to bring down his government. — AFP.