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Italy's Monti calls for euro zone bond support

Wednesday, August 01, 2012 - 02:09

Aug. 1 - Italy's Prime Minister, Mario Monti, is in Finland for talks with his counterpart, and says his country doesn't need help from its European partners but the markets could help in their purchasing of bonds. Rough Cut (no reporter narration).

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(ROUGH CUT ONLY - NO REPORTER NARRATION) Italian Prime Minister Mario Monti says his country's economy doesn't need help from its European partners but the markets should get behind euro zone government bonds. On a visit to Finland, he met with his counterpart, Jyrki Katainen, who has been an outspoken critic of the way the euro zone crisis has been handled. He says yields on some bonds are too high. (SOUNDBITE)(English) ITALIAN PRIME MINISTER MARIO MONTI SAYING: "Italy does not seem to be in need of any particular help, certainly not for the rescue of its economy, I should add, or its budgetary needs. Italy may need help, perhaps, in relation to the slow pace with which markets recognize the efforts taken and the results achieved by Italy, or other countries for that matter." (SOUNDBITE)(English) FINNISH PRIME MINISTER JYRKI KATAINEN SAYING: "Financial markets are assessing all the member countries as they should do. Yields are too high level in too many countries not because of the current situation in a particular country, for instance in Italy, but because the overall situation is so great that market forces don't give the value of the measures of what the country has already done or what has promised to do in the future (SOUNDBITE)(English) ITALIAN PRIME MINISTER MARIO MONTI SAYING: "What needs help is the functioning of the markets for government bonds in the Eurozone." (SOUNDBITE)(English) ITALIAN PRIME MINISTER MARIO MONTI SAYING: "I think this will help. I think this will, in due course occur. I think that progress in integration of fiscal policies, of banking policies of financial policies, we have to pursue hand in hand in the sense of following the common logic of deepening."

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Italy's Monti calls for euro zone bond support

Wednesday, August 01, 2012 - 02:09