137504345Mario Monti, who recently resigned his post as the prime minister of Italy, may be back again. For proponents of the current austerity plans, his return would be good news. The balance of Europe sees these austerity plans as a way for the European nation to cut its debt and its deficit. If Italy's economy does not plunge into recession, Monti's programs could be a template for the balance of the region.

The Financial Times reports:

Italy's centrist politicians are gathering around Mario Monti following his offer to lead an alliance into elections in February, setting the stage for a confrontation with Silvio Berlusconi in his attempt to return to power.

Mr Monti, who was appointed technocrat prime minister 13 months ago and has never fought an election in his life, is due to meet with prospective coalition partners on Thursday to discuss strategy and candidate lists, politicians said.

Douglas A. McIntyre


Filed under: 24/7 Wall St. Wire, Austerity, International Markets, Politics

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