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Italy refused IMF financial support: Berlusconi

Italy refused IMF financial support: Berlusconi
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First Published: Fri, Nov 04 2011. 07 42 PM IST

Italian Prime Minister Silvio Berlusconi. Photo: Bloomberg.
Italian Prime Minister Silvio Berlusconi. Photo: Bloomberg.
Updated: Fri, Nov 04 2011. 07 42 PM IST
Cannes, France: Prime Minister Silvio Berlusconi said on Friday Italy had refused an offer of financial support from the International Monetary Fund to help overcome the economic crisis, adding that he had no intention of resigning and did not believe his government would collapse.
Italian Prime Minister Silvio Berlusconi. Photo: Bloomberg.
Berlusconi earlier agreed to allow the IMF to monitor its progress in carrying through reforms whose delay has sapped market confidence in Italy and ravaged its government bonds.
Answering questions at a press conference at a G20 summit in France, Berlusconi said he did not believe his time in government was coming to an end despite a rebellion by government supporters in parliament. Nobody else could authoritatively represent Italy overseas, Berlusconi said, adding that deputies who abandoned his administration would be betraying the country at a time of crisis.
Economy minister Giulio Tremonti, long a thorn in Berlusconi’s side, refused to answer directly answer a question on whether he shared the embattled premier’s view on the survival of his government, saying he had nothing to add.
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First Published: Fri, Nov 04 2011. 07 42 PM IST
More Topics: Europe Debt Crisis | Italy | Berlusconi | IMF | Funds |