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News Summary: Italian premier defends austerity

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The Associated Press | December 11, 2012 03:39 PM EST | AP


NO MAGIC, MAN: Italian Premier Mario Monti defended his government's austerity measures as necessary to restore confidence in Italy's financial future, and warned voters to beware "magic solutions" from candidates in upcoming elections.

CIAO MONTI: Monti has said he will resign as soon as Parliament passes the 2013 budget law later this month. His term was due to end by April, and his resignation would move up elections by about two months.

TOO GERMAN? Former Premier Silvio Berlusconi, who is running again, said Monti's politics are too "German-centered," belittling concerns about the country's borrowing costs.