Mario Monti


Last quote by Mario Monti

It's truly regrettable that electoral law has not been reformed, despite all the calls by the head of state (President Giorgio Napolitano) to do so. I believe that this is the responsibility of political forces, and I also see that it failed to happen in a year when many social and economic reforms were introduced. It's one of the reasons why the electorate feels so far from politics.
Feb 26 2013
This page is completely dedicated to what Mario Monti has to say. All of Mario Monti’s quotes are organized here by date and topic. The most recent quote attributed to Mario Monti came from an article called Monti claims courage: “I am entering politics to give our children a future. With 20 years of promises and bad governance, the old ways have placed Italy in danger. They called on me to take decisions for which they did not have the courage.”.
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Mario Monti quotes

We take to the streets not only to say that we reject these austerity politics, but also to bring to the public's attention the problems of our education system, to remind people that schools are an important part of society and we can't do without them.

Italy has been able to get off the list of countries that were a major source of problems for the eurozone and contribute to the formulation of policies for growth in the eurozone.

But when a country makes progress with its economic policy that must be recognised elsewhere in the European Union, so there is not a continuation of this big divergence in interest rates for government borrowing, which doesn't reflect Italy's real situation.

Europe itself offers each country and asks each country to have to have a long-term vision of the future. It's no longer going to be possible for a single country to have deficits which eat away at the future, at the interest of future generations, like it was in the past.

Italy does not need support to finance its deficit. We haven't asked to use the existing mechanisms for dealing with debt, because fortunately – with the commitment of all the Italian people and Parliament – we're not in the same condition as Greece, Ireland and Portugal.

We believe that if there is enhanced tax cooperation bringing to the adoption of a financial transaction tax, say at the Euro Area level, then that should go hand in hand with other aspects of enhanced cooperation.

Greece needs more growth orientated policies. But we can now have a more serene vision of the future of the eurozone. You know the Italian position on this and I believe our policies are getting closer and this is positive.

Ideally this tax would have to be global, we all know how unrealistic it is to have a global agreement on tax matters, but I believe it should be for the European Union in geographical configuration, which is as wide as possible.

If measures are instigated that allow growth, then the financial markets will ensure that Italy's finances are sustainable. We will pay a lower spread, interest rates will be lower too and businesses will have an easier time rather than be penalised for investing and this will protect us from contagion.

We must not neglect that structural reforms per se will never deliver growth. Because, if a country becomes more productive and competitive, but there is no demand for its products, domestically or around it, growth will not materialise.

She means 'the sacrifices', you understand.

Italy has found itself – and still finds itself in a difficult situation and we wanted to avoid the same tragic fate as Greece. But rebalancing the Italian economy will take many years.

Spain passed a very forceful labour reform without consultation, but it did not pay the same attention to its deficit and during these last days it is causing us and causing all Europe great concern, since its interest rates are increasing.

All the social parts agree with the new Article 18 in the new form proposed by Welfare Minister Elsa Fornero, except for one: the CGIL.

The most acute phase of the euro crisis appears to be definitely over, but this is no reason for us to relax.

The government doesn't consider it responsible, under Italy's current conditions, to take on the commitment to offer the required (financial) guarantee. Considering the situation, we decided it wouldn't be responsible to take the risk.

Europe no longer has to fear Italy as a possible source of contagion for the euro zone, but can count on it working with Germany, France and other countries in the drive for stability and growth.

At such a sensitive time in the life of the European Union and the eurozone in particular, it is essential that every member does everything necessary to consolidate state budgets and implement reforms in each country.

If all of us fulfill our duties and if the widespread and conscious sense of responsibility I have seen in this chamber continues, I have no doubt, Italy will make it.

It is easier said than done. This is a very important objective both economically and socially. To ensure the stability of employment, we must first create job opportunities. In creating our economic policy which we have prepared with a sense of urgency we have provided specific tax breaks for companies that hire young people and women. That I believe is taking us in the right direction, but more must be done and we will do more.

It is not going to be that relevant because the European market will continue substantially to be developed by the 27 member states. Of course, if the United Kingdom had been at the heart of the euro zone, with France, Germany and Italy, or at least, even without the euro, if the UK hadn't contemptuously excluded itself it would have been a United Kingdom that counts for more, with more influence. And given that the UK has competition and the single market in its own DNA, staying in would have been a stronger move with benefits for all 27 countries.

It won't be so relevant, because the European market will continue substantially to be developed by the 27 (member states). Of course, if the United Kingdom had been at the heart of the eurozone, with France, Germany and Italy… or at least, even without the euro, if Britain hadn't contemptuously excluded itself… it would have been a UK that counts for more, with more influence. And given that Great Britain has competition and the single market in its own DNA, this (staying in) would have been a stronger move with benefits for all 27 countries.

The austerity, which is calling for sacrifices from our country, is fundamental for social fairness and, at the same time, is a launching pad for development. The events of the last months prove that our country's and Europe's destinies are strongly connected.

While taking these steps, at the same time we've thought about the need to create the conditions for growth in Italy. So we must strongly control the deficit and debt. We must not be seen as a source of infection in Europe, but once again as a source of strength.

As Italy is the third largest economy in the euro zone, it's important for Italy to be alongside France and Germany to come up with ideas and political proposals to develop the euro zone and find a solution to this crisis and the future of the European Union. At the same time, we want to maintain the good links with EU institutions.

I'm convinced that a good part of the financial, then economic, now social and, in part, political crisis affecting the world, Europe and Italy in particular, was caused by extremely serious mistakes by the financial institutions and the financial markets.

International investors own nearly half of our public debt. We have to convince them that we're taking the way of a gradual reduction of our debt-to-GDP ratio. The necessary sacrifices needed to stimulate growth and reduce debt have to be equally shared. The more they will be fair, the more acceptable those measures will be.

The absence of political personalities in the government will help, rather than hinder, a solid base of support for the government in parliament and in the political parties because it will remove one ground for disagreement.

I am confident that, despite these tough times, our team can give the markets peace of mind they need with regards to their view of our country.

Avoiding general elections is a goal that all should agree on, all those who care about the fate of our country.

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