31 Dec 2011

United response to crisis urged

8:08 am on 31 December 2011

Italian Prime Minister Mario Monti has urged a united response to the eurozone debt crisis.

He added that despite the two recent successful auctions of government bonds, he did not think that the phase of financial turbulence had finished.

On Thursday the government raised about 7 billion euros ($US8.96 billion) of debt. Interest rates on 10-year bonds remained high at 6.98%.

Mr Monti stressed that problems for Italy on the markets were linked to wider difficulties on the European level.

The BBC reports he said a "united, joint and convincing response" that could also boost growth, was required.