News24

Monti to hold talks on Italian govt

2011-11-15 13:04

Rome - Italian prime minister-designate, Mario Monti, was scheduled later Tuesday to hold talks on forming a government with representatives of outgoing Premier Silvio Berlusconi's People of Freedom party.

Monti was also set to hold talks with the leaders of the main centre-left opposition Democratic Party.

Monti began consultations on the programme and composition of his cabinet on Monday, and was expected to wrap up the process on Tuesday when he was also set to meet labour union and business leaders.

On Monday, Monti warned he would remit his mandate to form a government if parliament imposes on it a life span that would end before early 2013, saying an earlier date would "remove credibility".

Monti also said he would push for the inclusion of representatives from political parties of outgoing Berlusconi's conservatives and the centre-left opposition.

The former EU commissioner has been entrusted by Italian President Giorgio Napolitano to form a government aimed at renewing investor confidence on Italy's debt-ridden economy.

Market pressure on Italy increased on Monday after the country's borrowing costs jumped sharply in the latest auction of government bonds.