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Monti Says Euro Area Sovereign Debt Crisis Is Almost Over

Italian Prime Minister Mario Monti said the euro area crisis is “almost over” and that his nation has helped to stop a worsening of the situation.

Europe had initially been slow to respond, Monti said in a speech in Tokyo today.

Greece must step up efforts to tighten its budget and overhaul the nation’s economy to prevent a second bailout from collapsing, European officials said yesterday.

To contact the reporter on this story: Andy Sharp in Tokyo at asharp5@bloomberg.net

To contact the editor responsible for this story: Patrick Harrington at pharrington8@bloomberg.net

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