ROME — Italy’s Premier-designate Mario Monti said Monday it is “premature” to say if the country will require more tough measures to rescue its finances and revive its economy, as he sought enough backing from political parties to form a government.

Two days after Silvio Berlusconi resigned as premier, and with investors still nervous about Italy’s credibility, Monti spent Monday consulting with political parties, then said he can’t say when he would have a Cabinet lined up.

Pressured by financial markets, Italy’s Parliament last week gave final approval after weeks of political squabbling over emergency measures aimed at cutting spending and spurring economic growth, but it is unclear if that action is enough with Italy’s debt costs shooting upward.

Asked if Italy would need a “corrective” package of measures, Monti replied: “I appreciate the question, but it would be premature on my part to reply.”

A few party leaders — including ones in Berlusconi’s party — have been demanding the nonpartisan Monti last only long enough to implement economic reforms, then step down so elections can be called this spring, a year ahead of schedule.

But Monti, a 68-year-old economics professor, made clear that he intends to serve until the spring 2013 elections, calling it counterproductive to say when he’d step down.

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“If a date before (2013) is set, this haste would take away credibility from the government’s actions,” Monti said at his brief news conference.

“I won’t accept” such a condition, he said.

Investors initially cheered Monti’s appointment, though concern lingered about the sheer amount of work his new government will have to do to restore faith in the country’s battered economy and finances.

 


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