Italy Withholds EU Growth Pact Approval as It Seeks Debt Deal

Italian Prime Minister Mario Monti may block the 120 billion-euro ($149 billion) growth initiative announced by European Union President Herman Van Rompuy without an effort to reduce its borrowing costs, two Italian officials said.

Italy is withholding its official endorsement as it pushes for collective action at an EU summit in Brussels to push down its bond yields, said the officials who spoke on the condition that they not be named.

To contact the reporter on this story: Andrew Frye in Rome at afrye@bloomberg.net;

To contact the editor responsible for this story: James Hertling at jhertling@bloomberg.net

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