''No European nation is strong enough to ride out the continent's debt crisis alone, Italy's new premier insisted, urging fellow European Union members to develop a common growth policy.
Mario Monti, an economist who was appointed leader of the eurozone's third-largest economy in November with a mandate to pull Italy back from the brink of financial disaster, said: "Italy, in order to develop economically and socially, needs Europe, and Europe to be stronger needs Italy."
Mr Monti's comments came at a ceremony honouring the Italian flag in the northern city of Reggio Emilia yesterday.
"No European country is so strong that it can go forward alone in facing the great global economies," the former EU commissioner said. "Europe needs to put into action common and co-ordinated growth policies on financial stability."
''Countries around the world, particularly in the West, are hopelessly in the red, with debt rising every day. Even worse, politicians seem paralyzed, unable -- or unwilling -- to do anything about it. It is a global disaster that threatens the immediate future. But there might be a way out..'' DER SPIEGEL
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