Obama praises economic reforms of Italian PM

WASHINGTON: The US President, Barack Obama, has praised the economic reforms initiated by Italian Prime Minister Mario Monti, noting that his measures have been able to generate enough confidence in the European market.

"We appreciate the strong start that he has embarked on and the very effective measures that he is promoting inside of Italy," Obama said in a joint media availability with the visiting Italian Prime Minister at the White House.

"You've already seen because of his stewardship and his experience and his knowledge of economics, that not only has he boosted confidence within Italy about a reform agenda, but he's also been able to generate confidence throughout Europe and in the marketplace that Italy has a plan that takes seriously its fiscal responsibilities, but also emphasises the need for structural reforms that can promote growth," he said.

The two leaders also discussed the current situation in Afghanistan.

"I emphasised to him how much we appreciate the sacrifices and outstanding work that are made by Italian forces in Afghanistan, and we reaffirmed our commitment to the Lisbon schedule in which we transition to full Afghan lead by the end of 2014," he said.

The Italian Prime Minister said the two leaders discussed a wide range of issues.

"We agreed on the strategy in order for Europe to consolidate its budgetary position, to cope with the financial tensions, and, in particular, you heard the President mention the importance of adequate firewalls and also the imperative of growth -- a growth which can only come, particularly in Europe, from structural transformations giving more role to productivity, enhanced efficiency, the Italian Prime Minister said.