18 Nov 2011

New PM details Italy's plans for debt crisis

6:00 am on 18 November 2011

Italy's new prime minister Mario Monti has presented his plans to tackle the country's economic problems and cut its debt.

In his first speech to parliament, Mr Monti said austerity measures would be balanced by economic growth and social fairness.

His speech gave a sense of the urgency of the crisis facing both Italy and the eurozone, the BBC reports.

Mr Monti said the future of the single currency depends on the steps Italy might take in the days ahead.

He talked of wanting to implement a range of reforms and spoke of needing to rein in spending and fight tax evasion.

Mr Monti said he would aim to spur growth and find ways to create desperately needed jobs for women and young people.