The European Stability Mechanism, or ESM, “must follow lean procedures in order to be effectively usable” by countries, Monti said in an interview with Sole today. Europe should also use project bonds “to build transportation and communications networks, such as broadband,” Monti said. On so- called euro bonds, Monti said that there are “significant divergences” within the region.
“A rapid improvement in the European governance will help interest rates to drop,” making it easier for each nation to carry out reforms, Monti told the newspaper.
The premier also said his government will soon take measures to cut the costs of politics and bureaucracy in Italy, Sole reported.
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