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"The whole stability of Europe depends on whether Italy gets its act together"
- Eric Strutz, Chief Financial Officer at Commerzbank
Italy will allow the International Monetary Fund to monitor implementation of its austerity reforms, said European leaders on Friday. "We need to make sure there is credibility with Italy's targets -- that it is going to meet them," one EU source said.
"The whole stability of Europe depends on whether Italy gets its act together," Commerzbank Chief Financial Officer Eric Strutz told analysts in a conference call on Friday.
"After Greece, the next issue is Italy," said Patrick Legland, Global Head of Research at Societe Generale on Friday. "We will have an issue with Italy at some point and all this will come back onto the agenda. You should remain risk off on Italy."