Italy's Monti says important to manage crisis without EU aid

Reuters News
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Posted: Jul 20, 2012 7:36 AM
Italy's Monti says important to manage crisis without EU aid

ROME (Reuters) - Italy should try to get through the financial crisis that has sent its borrowing costs spiraling without the help of bailouts from its European partners, Prime Minister Mario Monti said on Friday.

"For the dignity of a country, for its sense of confidence in itself, for the respect that the country and Italian citizens enjoy on the international stage, there is a big difference between managing alone or doing it with the help of a bailout from Europe," he told reporters following a cabinet meeting.

He ruled out further sweeping austerity measures and denied reports his government was planning to introduce a special wealth tax, saying Italy was on the right track to meet its immediate fiscal targets.

(Reporting by Catherine Hornby and James Mackenzie)