FRANKFURT (MNI) – The Italian government’s reform efforts will
bring results, Germany Chancellor Angela Merkel said Wednesday during a
joint press briefing with Italian Prime Minister Mario Monti in Berlin.

“I am convinced that the reform efforts will bear fruit,” Merkel
said.

Monti managed to convinced the chancellor that Italy’s
“wide-ranging consolidation and reform agenda is impressive, that it
will continue step by step and be implemented,” Merkel said.

Monti said, “Italy has undertaken great efforts. Italy has achieved
great success.” He noted that markets are beginning to recognize this.

Merkel said the two leaders viewed Tuesday’s emission of Italian
government bonds as “a positive signal” and that she was convinced
continued efforts by Rome would contribute to further lowering the
spread between German and Italian borrowing costs.

–Frankfurt newsroom, +49-69-720-142; jtreeck@mni-news.com

[TOPICS: M$I$$$,M$X$$$,M$$CR$,MGX$$$,M$G$$$]