Italian President Giorgio Napolitano appointed the new Prime Minister of the country after Silvio Berlusconi stepped down from the position. The new Prime Minister is Mario Monti, a well-known economist and former chairman of the Anti-Monopoly Committee of the European Union.
Making a speech for reporters, the 68-year-old professor of economy and the dean of a prestigious Milan-based university, stated that Italy was capable of overcoming the debt crisis.
"I intend to fulfil this task with a great sense of responsibility and service towards our country. In a moment of particular difficulty for Italy, in a turbulent situation for Europe and the world, the country needs to meet the challenge. It must return and be an even greater element of strength and not weakness in the European Union in which we have been founders and in which we need to be protagonists. Our strengths will be in re-stabilising the financial situation and taking a path to growth," Monti said.
Italian Prime minister Silvio Berlusconi stepped down on November 13. Berlusconi had been taking the position for ten of the recent 17 years. His resignation occurred after the parliament of Italy approved the anti-crisis package of measures.