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Italy's PM: Eurozone Must Unite Against Crisis


Italian Prime Minister Mario Monti

Italian Prime Minister Mario Monti

Italian Prime Minister Mario Monti has called for a "united, joint, and convincing response" to the eurozone debt crisis.

He told a press conference that despite the two recent successful Italian bond auctions, he did not think that the phase of financial turbulence had finished.

Monti added that problems for Italy on the markets were linked to wider difficulties on the European level.

Interest rates on Italian 10-year bonds remained high, at nearly 7 percent.

Monti replaced Silvio Berlusconi as prime minister last month amid fears of an economic collapse.

Investors are now waiting for the details of Monti's proposals to try to improve the Italian economy.

compiled from agency reports

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