Italy has agreed that the IMF and the European Union and to monitor progress towards the goals of structural reforms, pension and labor code agreed by EU leaders last week, said Friday a senior source within the Union, quoted by Reuters .
'We must ensure that there credibility in relation to the objectives of Italy, as they will perform. We decided to involve the IMF in monitoring, using available technology and the Italians said they accept it, "said added.
'Italy has no problem in terms of supervision, even with IMF involvement, "he insisted this.
The same official, European Commission and IMF will make progress reports on each of Italy.
He noted that a so-called preventive credit line is not considered a credible option for Italy, which has a big problem with trust markets.
'Given the general climate and lack of credibility of Italy, any problem, any step back tenfold negative effects' - the source told Reuters.
I think Italy has did a great job by allotting the IMF and European union to monitor the progress of structural reforms.
BalasHapus