中國網(wǎng)站品牌欄目（頻道）
Former European commissioner Mario Monti began preparations on Monday to form a new technocrat government to restore market confidence in Italy's battered public finances after accepting a mandate to succeed Silvio Berlusconi.
In a frenetic weekend of political activity, Italy's parliament approved a package of economic reforms agreed with European leaders, Berlusconi resigned and President Giorgio Napolitano appointed Monti, a respected international figure, as head of a new government.
Monti was due to hold talks with the main political parties on Monday as he looks to appoint what is expected to be a relatively small cabinet made up of specialists from outside parliament.
After a tumultuous week, when Italy's borrowing costs rose to the kind of levels that saw Ireland and Greece forced to seek an international bailout, reaction on Monday was positive with stocks rising and the yield on 10 year bonds well under the 7 percent danger line at 6.4percent.
A further test will come later when the Treasury offers up to 3 billion euros worth of 5-year bonds in an auction that will show how far fragile confidence in Italy's battered public finances has been restored.
Because the eurozone cannot afford the much bigger bailout that would be needed to save its third largest economy, the crisis threatened a European financial meltdown.
Napolitano said after nominating Monti that there must be an extraordinary effort to address the crisis and Italy could not wait for elections to solve political paralysis. He said Italy must recover the trust of investors and European institutions.
"I intend to fulfil this task with a great sense of responsibility in the service of our country," Monti said after receiving the nomination.
"In a moment of particular difficulty for Italy, in a turbulent situation for Europe and the world, the country needs to meet the challenge," he said.
Monti's government will try to push through reforms agreed by Berlusconi with eurozone leaders to cut Italy's massive debt and revive a chronically stagnant economy.
There are clear signs that he will face problems, with Angelino Alfano, secretary of Berlusconi's PDL party, saying there was "huge opposition" among its members despite promising its support to the new prime minister.
（中國日報網(wǎng)英語點津 Helen 編輯）
About the broadcaster:
Emily Cheng is an editor at China Daily. She was born in Sydney, Australia and graduated from the University of Sydney with a degree in Media, English Literature and Politics. She has worked in the media industry since starting university and this is the third time she has settled abroad - she interned with a magazine in Hong Kong 2007 and studied at the University of Leeds in 2009.
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