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Italian PM Mario Monti says he won't run for election

September 25th, 2012
06:27 PM ET

By Lucky Gold & Samuel Burke

Italy’s unelected Prime Minister, Mario Monti, tells CNN’s Christiane Amanpour that he will not run in the upcoming elections.

“I don't need to, because the president of the republic appointed me senator for life,” Monti said Tuesday. “And I think it's important that the full political game resumes in Italy, hopefully with a higher degree of responsibility and of maturity. We are helping that by being part of the European Union. Obviously, I will facilitate as much as I can the evolution.”

Putting out a big European fire

Italy’s Prime Minister Mario Monti, in New York this week for the meeting of the United Nations General Assembly, sounded a note of optimism about the fate of the euro: “Since June-July of this year I am much more confident about the future of the eurozone.”

Appearing Tuesday on CNN's Amanpour program, Monti credited the tough economic measures his government has instituted, even if they have deepened the recession in the short run.

“It’s normal that Italy is still in a recession because the measures we introduced, if anything, did deepen the recession a bit…. But above all we took Italy out of the list of the countries that might have created a big European fire.”

Ghosn: Eurozone now has time, but needs growth

However, he acknowledged that there was much more work to be done. “Can I borrow an expression that President Obama used this morning in his speech to the General Assembly? He spoke of the Arab world after the [Arab] Spring - of the painstaking work of reform. That exactly applies equally to domestic reforms in each of our countries. And I’m glad to say that although the Italian people have been subjected by the government I chair to an unprecedented amount of sacrifices, and discipline and eliminating privileges and grants, the Italian people so far have behaved in a highly responsible manner.”

It was not a showdown. It was a vigorous working-together.

Unlike financier George Soros, who has called on Germany “to lead or leave” the eurozone, Monti said, “Leadership from Germany is welcome, especially if at the same time the German leaders are able to lead their own domestic public opinion to understand the responsibilities of leading Europe.”

To that end, “Chancellor [Angela] Merkel has gone a long way toward gradually achieving this. Thanks to the evolution in Germany, the mechanisms for the governance of the EuroZone are being improved by the month. It was a bit late but I think we got there.”

“A bit late?” Perhaps that was due to Chancellor Merkel’s resistance to Monti’s proposals, which came to a head last summer in a now-famous showdown? The Prime Minister was diplomatic: “It was not a showdown. It was a vigorous working together. And I think everybody is now happy that what we agreed unanimously - albeit at five am in the morning I must admit - is well received.”

Asked if he threatened to block all deals until the German Chancellor took action, Monti would only say, “I had to get convincing, which can be done softly. And at no moment was it personal against Chancellor Merkel.”

Spain set to reveal the pain in its books

CNN’s Ken Olshansky produced this piece for television.

soundoff (16 Responses)
  1. JendosReki

    http://advokatmoskwa.ru/ – представительство в арбитражных судах

    September 26, 2012 at 5:15 am | Reply
  2. Alberto Costa

    Super Mario has saved Italy from disaster. This article doesn't give him nearly enough credit. Not only has he restored our economy, but he has also restoted our honour as honest, hard working people. Most of all he did what nobody else before him could do: he brought change to a country paralyzed by corruption and political apathy. And he did all this without gaing any srlfish political capital or personal wealth. Thank you Mario, we are forever in your debt. P

    September 26, 2012 at 2:47 pm | Reply
    • european

      Indeed, Monti is a great example of how politicians should be. Competent, reliable, trustworthy, not afraid of reforms, even the challenging ones and confident enough of his own abilities to make his voice heard. Italy can be thankful for and proud of this man.

      September 26, 2012 at 4:36 pm | Reply
  3. Alberto Costa

    Super Mario has saved Italy from disaster. This article doesn't give him nearly enough credit. Not only has he restored our economy, but he has also restoted our honour as honest, hard working people. Most of all he did what nobody else before him could do: he brought change to a country paralyzed by corruption and political apathy. And he did all this without gaining any selfish political capital or personal wealth. Thank you Mario, we are forever in your debt. Please don't leave us!

    September 26, 2012 at 2:50 pm | Reply
  4. The Old One

    Socialism will sink Europe. Having to buy the votes of the un-productive, lazy and failures by stealing (taxes) from the successful and hard working is what brought the crisis about in the first place. That traps people by robbing them from their basic human responsibilities. There should be no rights without responsibility.

    September 26, 2012 at 7:13 pm | Reply
    • Giac77

      Too hard declare what you say but certainly trade unions have tied the hands of the Italian Companies. Worker have too much rights and nobady remember his duties

      September 27, 2012 at 7:15 am | Reply
  5. tgm

    It is a shame. He seens a good guy, sincere and capable

    September 27, 2012 at 3:00 pm | Reply
  6. Robert Powell PhD

    What a complete FRAUD and FARCE Monti, Merkel, Hollande, the EU, ECB and Dragi are: The EU and all its criminal politicians who created this entire financial mess have gone "Scott-free" without any one of them being held accountable or found guilty of fraud, theft and incredible misdeeds!

    Nothing will change in the EU with its corrupt politicians and Bankers and they will continue stealing EU citizen’s money, making the People the only ones responsible. Why has the EU Commission never asked Greek Politicians about the 200 billion Euros they have looted from the people and EU funds they stole and sent offshore and to Swiss banks?

    Because the Bankers & EU Commission is in on this game and absolutely corrupt… It is Pathetic... Time to tear the system down and start over... Stop voting for these horrible Criminal Politicians & jail the Bankers for financial fraud & get back citizens money

    September 28, 2012 at 1:42 am | Reply
    • Chris

      I totally agree about the bankers getting off scott free, and Greece seems to forget how they got into that mess (it wasn't Germany)! But I think you are wrong to call the leaders of the Eurozone nations FRAUDS, they may have to make sacrifices to their integrity and values but they do what they have to just to keep the Euro floating. It's do or die in Europe right now.

      October 16, 2012 at 11:03 am | Reply
    • Salem

      I have to agree with you, this guy is a complete fraud. Since coming to power this guy has done nothing but increase taxes, especially on the lower classes, while completly ignoring Italy's fundamental problems. One prime example: as soon as he moved into office he increased taxes on private property but banks and the church were left out.
      He hasn't done anything to address the massive problem that our bureaucracy rappresents, has done nothing to address the problems that Sicily rappresents (but was quite fast in securing 1.5 billion euros to the island to keep it from going default without demanding any reform), has been reducing the money being spend on fighting organized crime and this can be easily seen as very few arrests have been carried out in the past year.
      He is just interested in increasing his international prestige, trying to appear in every international forum shaking hands with people like Merkel, Cameroon and Obama, but has no real interest in solving Italy's long term problems.

      October 17, 2012 at 2:42 am | Reply
    • Lampard oxford

      At last someone who wrote the true. There is just one problem in Europe, the BCE and all the bankers.

      The EU citizens should be the owner of the money and no the banks who pay 0.30 Euro to create 100 Euro note and when they lend money they ask you to pay 100 E

      The debt of the countries should be written off and the governments have to create the money and put them in the market in change of servicies.

      Until this story will finish the debt will increase and there will be no austerity misure that can save EU

      November 15, 2012 at 8:00 am | Reply
  7. pmorra73

    Perhaps Mr. Monti ha calmed the corruption and the wasted money disorders quite a bit, however there is still a lot of poverty, corruption and incompetence going on in Italy. I think that the welfare cuts against public health are too heavy. I also diagree with the amount of privileges that are granted to big banks to stop them from merging with one another. If we had a more transparent way of life with less massive loans to people who are already enormous, then we may live a more moderate and civil way of life. Bye, pmorra73

    October 2, 2012 at 1:42 pm | Reply
  8. Kevivoe

    Everyone knows all that the EU has left is unfounded confidence. Without this illusion of confidence, there would be even larger bank runs and collapse ... which may come anyway.

    October 30, 2012 at 11:51 am | Reply
  9. Robert Powell PhD

    Monti and the Eurozone is a COMPLETE FRAUD-- Merkel, Hollande, the IMF, EU, ECB and Dragi and all the unelected EU politicians who created this financial mess have gone "free" without any one of them being held accountable or found guilty of theft and incredible misdeeds!

    Nothing will change in the EU with its corrupt politicians and Bankers and they will continue stealing EU citizen’s money, making the People the only ones responsible.

    Why has the EU Commission never asked Greek Politicians about the 200 billion Euros they have looted from the people and EU funds they stole and sent offshore and to Swiss banks?
    Because the Bankers & EU Commission is in on this game and absolutely corrupt… It is Pathetic... Time to tear the system down and start over... Stop voting for these horrible Criminal Politicians & jail the Bankers for financial fraud & get back citizens money!

    November 1, 2012 at 2:23 am | Reply
  10. luca monacello

    Indaco70
    I am Happy about Obama president,it is a good solution for American future. Goodbay for an italian supporter .

    November 10, 2012 at 5:50 am | Reply
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