Sarkozy and Merkel: "If Italy Collapses, The Euro Collapses"

After meeting with Prime Minister Mario Monti at Palazzo Chigi, which lasted two hours, Olli Rehn, European Commissioner for Economic Affairs, spoke to the press: "The challenges facing Italy son0o very challenging. We will work in close partnership with the government because it has done all that is needed. Italy can overcome the crisis, economic fundamentals are solid, Italy is full of talent and dynamism. " The Commissioner continued: "We welcomed the new government program. I support the priorities of the Mountains: fiscal consolidation and growth. We must offer more places for young people, better job prospects. The country has not only need financial consolidation. "

URGENT - "A strong mandate to push ahead with reforms - said Rehn - there is urgency. The package measures just presented (liberalization of professions, expedited court proceedings and mobility of public employees), is a good omen. We need to change the negative trend that has forced taxpayers to pay the debt. We are pleased that Italy has a new role in Europe Italy needs Europe, but also the need of an Italy'Europa loud since Italy is one of the founders of the Union. " And answering a question on the high level of differential between the BTPs and German Bunds, Rehn said: "If the spread will continue to be so high for a long time will have an impact on the economy."

COLLAPSE OF THE EURO? NO - "I see a tendency towards a collapse of the euro. We are working to implement the decisions taken at the Summit of the Eurozone. There is no reason to speculate on the negative collapse of the euro, Italy is a founding member and each one will do its part "then said the Commissioner. "In Italy the sovereign debt securities with maturities tied to very long - he said -. If this element were to remain the economic impact would be negative. "

Will report 'A ECOFIN - "The next week at a meeting of eurozone finance ministers will report on the results of my meeting in Italy on October 26 as established for the monitoring of Italy." So concluded the press conference, Olli Rehn, "the European Commission will continue to work closely with the government Mountains."

Sarkozy-Merkel - "A financial and economic collapse of Italy would" inevitably at the end of the 'euro'. So you would have previously expressed Nicolas Sarkozy and Angela Merkel, as reported by the Italian government in a statement issued following the Council of Ministers.

"Unforeseeable consequences" - French President and German Chancellor, said the statement, "expressed full confidence in President Monti and his government and reiterated the support of Italy Italy saying he was aware that a collapse would lead inevitably to the end of 'euro, causing a deadlock in the process of European integration, with unforeseeable consequences "

EQUILIBRIUM IN 2013 - For its part, reaffirmed Mountains Merkel and Sarkozy, "the commitment to achieve the objectives set at European level and in particular a balanced budget in '13, clearly identifying fair but incisive structural reforms to be pursued with the consent of social partners'