September 10, 2012 / 8:56 PM / in 7 years

Italy to return to economic growth in 2013 - Monti

NEW YORK, Sept 10 (Reuters) - Italy’s economy will return to growth in 2013 thanks to a decline in interest rates which is already taking place, Italian prime minister Mario Monti told CNBC television aired on Monday.

“I see this growth happening first of all...through a decline in interest rates because these unduly high interest rates on Italian government securities are not yet reflecting the new and better fundamentals of the Italian economy and public finance,” Monti told CNBC’s Maria Bartiromo in an exclusive interview in Cernobbio, Italy on Saturday.

The European Central Bank announced last week that it would be prepared to buy sovereign debt of euro zone countries that had undertaken economic reforms to control rising borrowing costs.

Monti had ruled out that Italy would ask for external help from European partners but he had also said that any potential request should not be associated with any stigma.

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