Monti forms new Italian government

Updated: 2011-11-17 06:36


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Monti forms new Italian government

Newly appointed Prime Minister Mario Monti rings the silver bell to signify the start of his first cabinet meeting at Chigi palace in Rome Nov 16, 2011. [Agencies]

ROME - Mario Monti on Wednesday took over as Italian new premier and he led the newly selected cabinet ministers to be sworn in at the presidential palace, a symbol of starting their task for drawing off a heavy debt-driven financial crisis.

Italian President Giorgio Napolitano said: "The formation of this new government was difficult and delicate, but we have managed all together to find the most appropriate solutions."

"There are already many positive signals of confidence in the EU,"the president told the new government team and reporters at the sworn-in ceremony.

Corrado Passera, CEO of Intesa Sanpaolo bank of Italy, named as economic development and infrastructure minister, said: "We will convince markets through concrete plans."

Monti and his team, composed of experts in their respective fields who are not politicians, were sworn in after the new Italian prime minister publicly unveiled his cabinet ministers.

Monti, a respected economist and former EU commissioner, said that he is "confident" in his cabinet ministers and will focus "on joint initiatives for economic growth and development" as he announced he had accepted from Napolitano the mandate to replace Silvio Berlusconi.

The new government is expected to face a confidence vote in both chambers of parliament on Thursday and Friday.

Paola Severino, a lawyer and deputy head of LUISS University in Rome, became the first female justice minister in Italy's history.

Monti's government will be the 61st since Italy was proclaimed a republic after the Second World War.

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