Italy's Monti sees hope of end to euro crisis

ROME (Reuters) - Italian Prime Minister Mario Monti said on Tuesday there was light at the end of the tunnel of the euro zone debt crisis but offered no clear signal on the prospects of the bold action this week by officials hoped for by financial markets.

"Decidedly yes," he said in answer to a question on Italian state radio RAI. "It is a tunnel but ... some light is appearing at the end of the tunnel. We and the rest of Europe are approaching the end of the tunnel."

He added that decisions taken at last month's EU summit were starting to show fruit.

"We are now seeing results both in the willingness of European institutions as well as from the governments of individual countries, including Germany," he said.

Monti, who leaves later on Tuesday for a trip to France, Finland and Spain, said he hoped his meeting with French President Francois Hollande would accelerate moves to strengthen the euro and spur growth.

Markets are watching all comments by European leaders closely for any signs - so far lacking - that Monti and others have convinced Germany of the need for stronger immediate action.

That would open the door for the European Central Bank to announce bold moves later this week, making good on its head Mario Draghi's promise to do "whatever it takes" to rescue the euro.

"We want to give a sense of the solid and strong work carried out together, work being done with Germany, which is an essential point of reference," he said.

"Both Hollande and I have recently had contact with Chancellor Merkel. We have a way of working together which does not exclude anyone. The breakthrough will be to push everyone to enact the decisions made in Brussels at the end of June without delay and without turning back," he said.

Monti said he would try to convince the Finns, who are skeptical about the commitment to austerity in southern Europe's debt-loaded nations, to recognize Italy's progress in economic reforms.

"It is very important that all of us in Europe, regardless of latitudes, see to it that the euro, which is the pinnacle of the cathedral of the construction of Europe, does not become a cause of disintegration," he said.

"We all have to make a effort to overcome reciprocal prejudices, to look each other straight in the eye and look at the statistics. Finland has made extraordinary progress in its economy in recent years and I hope the Finns recognize what Italy has done in these years and these months," he said.

He also said he was confident that Spanish Prime Minister Mariano Rajoy would be able to tackle the country's problems.

(Reporting By Philip Pullella; editing by Barry Moody and Patrick Graham)

Source: http://news.yahoo.com/italys-monti-says-sees-light-end-tunnel-euro-073651650.html

dog show best in show bret michaels bret michaels pekingese ups tcu football