Revolt at home if debt continues: Monti

On Friday, Monti warned his European counterparts that failing to reach a deal to solve the bloc’s crisis in their upcoming Brussels summit next week, could lead to a change in direction of the mostly pro-European Italian parliament on the issue of a “deeper integration” of the eurozone.

Talking to a leading Italian newspaper, Monti warned that failure of the EU leaders to tackle the crisis would weaken public support for greater integration and called it “a risk that I see even in our parliament, which traditionally has been pro-European and no longer is.”

Premier’s comments were followed by rising tension in the Italian and Spanish markets on Friday.

Monti, who took over from the former Prime Minister, Silvio Berlusconi, has so far tried hard to implement a series of continued economic reforms in a debt-ridden country which has also been struck by harsh and unbearable austerity measures for years.

According to a poll conducted by IPR institute, Monti’s popularity which was recorded 49 percent in May has been on the wane since February.

Thus far, Monti has utilized a policy of combining debt-crisis threats and promises of progress to keep political parties appeased.

MY/SS

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