Report: Monti says Italy a 'safe place'

Associated Press + More

BERLIN (AP) — Premier Mario Monti says he considers Italy a "safe place" amid market turbulence after his government embarked on a reform drive.

Monti was quoted in an interview Saturday with German daily Sueddeutsche Zeitung as pressing for Europe to channel its energy into generating growth rather than more "particularly original ideas for budget discipline."

He spoke before a planned appearance Saturday at the Munich Security Conference, an annual gathering of security officials tinged this year by concern over the eurozone debt crisis.

Monti's government has been trying to regain investor confidence by cutting public spending and reforming a sluggish economy.

Italy's struggle with high borrowing costs is a cause for concern because the country is considered too big to rescue if it gets into deeper trouble.

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