Capri (Naples)

Eurozone must work 'collectively' to resolve crisis

Monti lauds young industrialists for European spirit

Eurozone must work 'collectively' to resolve crisis

Capri (Naples), October 26 - Italy's efforts to reduce the public debt and promote growth will only be successful if they are part of a collective action at European level, Premier Mario Monti said on Friday. "Italy has made difficult choices and introduced major reforms in recent months in order to turn a new page" and help resolve the crisis in the eurozone, the leader of Italy's technocrat government wrote in a message to young industrialists gathered for a convention in Capri. However, "reforms and committments for growth in Italy, as in all (EU) member states" can only be successful "within the framework of collective action at European level", he said. Monti congratulated the young industrialists on their decision to put Europe and the future of the common currency at the centre of the agenda for their convention, which will also see participation by counterpart organisations from France, Germany and Spain. "The approval of a joint declaration on the future of Europe, signed by the four youth organisations, is an important act and an admonition to the European Council to take decisive steps in the next few months to give the European Union an adequate multiannual financial framework and the prospect of developing into an authentic economic and monetary Union," he said. "It is essential that the young generations, including young people who find themselves in the front line in doing business and creating new opportunities, see the European Union as a necessary point of reference for their actions and engage directly in planning its future," he concluded.

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