United States President Barak Obama has again praised Italy, this time referring to the fiscal and economic actions of Prime Minister Mario Monti, according to ANSA, the Italian news agency.
I had posted of Obama's praise for Italy's fiscal reforms and economic strength at the end of the premiership of Silvio Berlusconi in my November of 2011 post, European Monetary Union Update: New Governments for Greece and Italy, http://www.williamcinfici.blogspot.com/2011/11/european-monetary-union-update-new.html.
ANSA reports that Obama referred to the “strong spirit of historic friendship” between the United States and Italy. The American President also expressed his great respect for his Italian counterpart, Georgio Napolitano, according to ANSA.
The praise from the United States is helpful in encouraging investor confidence in Italy in particular and Europe in general amidst the crisis in the Eurozone, of which Italy is of critical significance. Despite growing fears over Greece and Portugal, bond prices are reflecting an increase in confidence in the Italian budget and economy, which, in turn, decreases Italy's borrowing costs.
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