Mario Monti, Italian Prime Minister, announced that despite the economy of his country had improved, the financial “crater” has regrown and the country has fallen again into a severe crisis.
“We moved away from the brink thanks to the contribution of political forces and the sacrifices of the Italians, but the crater of the cliff has been extended (…) we are again in crisis,” said Monti.
Despite the announcement, Monti believes that Italy will leave the financial decline.
“We will succeed, we are achieving it on our own (…) we will require a bit of time,” Monti said adding that there are “loopholes out of the crisis in a reasonable time.”
Monti’s remarks came a day after the Executive approved a decree for development.