Merkel:

  • German-Italian contacts very close
  • Italian reforms will bear fruit
  • Italian reforms, budget consolidation impressive
  • Germany, Italy on the right path
  • Euro area needs more coherence
  • Wants to move quickly in agreeing long-term EU budget
  • Euro area has right tools to stabilize euro

Monti:

  • Italian reforms beginning to be recognized by markets
  • Discussed German ESM court case
  • ESM of prime importance to euro area