ROME (AP) — Economist Mario Monti accepted the monumental task Sunday of
trying to form a new government that can rescue Italy from financial ruin,
expressing confidence that the nation can beat the crisis if its people pull
together.
His selection came a day after Silvio Berlusconi reluctantly resigned as
premier, bowing out after world markets pummeled Italy's borrowing ability,
reflecting a loss of faith in the 75-year-old media mogul's leadership.
Berlusconi quit after the Italian parliament approved new reform measures
demanded by the European Union and central bank officials — but even those are
not considered enough to right Italy's ailing economy.
"There is an emergency, but we can overcome it with a common effort," Monti
told the nation, shortly after Italy's president formally asked him to see if he
can muster enough political support to lead the country out of one of its most
trying hours since World War II.
