Monti claims Italy no longer euro contagion risk

Italian Prime Minister Mario Monti has said that his country has had to make painful reforms and shouldn't be viewed as being a potential source of contagion any longer, as reported by BBC News.

The leading figure was speaking directly after talks in the German capital Berlin with Chancellor Angela Merkel. Germany's head of state said that she has always had "great respect" for Italy and admired its reforms.

Earlier on, Monti warned of anti-Eu protests if Italy's reforms were unrecognised, and said that there were no EU concessions in the form of interest rate cuts.He predicted that without "tangible successes, protests against Brussels, Berlin and Europe's Central Bank would ensue.

Mr Monti, the head of an administration laden with unelected technocrats ever since November, followed the path of two other important leaders, namely French President Nicolas Sarkozy and IMF head Christine Lagarde, by venturing to Berlin. Lagarde then went to Paris in order to meet Mr Sarkozy and discuss pressing financial matters.

The leaders of France and Germany are both scheduled to head to the Italian capital Rome on 20 January. Speaking to the press, Mr Monti explained that Italy had shown an incredibly mature attitude that doesn't merit rewards but instead recognition from the rest of Europe. He added that the continent should now be alleviated of fears over the Mediterranean nation proving to be a source of contagion.

In an earlier interview conducted by Germany's leading daily newspaper Die Welt, Mr Monti stressed that Italians have accepted reforms without the lengthy political procedures that Rome has become known for.