Italy has done its part in solving eurozone crisis: Monti

ROME - Agence France-Presse

Italian Premier Mario Monti waits to meet his Dutch counterpart Mark Rutte at the Chigi Premier palace in Rome, Monday, Dec. 5, 2011. AP photo

Italy has done its part in helping the eurozone debt crisis, Prime Minister Mario Monti said on Monday, after his cabinet adopted a harsh austerity plan of tax increases and pension reforms.
"We did our part yesterday," Monti, a former top European Union commissioner who came to power only last month, said at a news conference ahead of a speech in parliament where he will formally present the new measures.
"I believe we will have support in parliament," he said.
Final approval of the measures in parliament is expected before Christmas.
"For Italy to have a credible, incisive and respected role in a European, international context it has to resolve grave problems... that sometimes make it a less than credible partner and even a source of infection," he said.
"We are obliged to act and we are profoundly convinced that we will save Italy with everyone contributing to this effort," he added.
The plan adopted on Sunday includes a major pension reform, increased taxes on houses, new levies on luxury goods as well as government cuts.