BBC – Mr Monti, who has now been sworn in, appointed a banker to lead a super-ministry of development, infrastructure and transport. Mr Monti, a former EU commissioner, has sought to reassure markets that Italy will overcome its debt crisis. Italy’s borrowing costs have fallen back below the critical 7% level. The European Central Bank eased the pressure, pushing costs down by buying up Italian bonds. Mr Monti took on the economy and finance portfolio himself. Corrado Passera, CEO of the Intesa Sanpaolo banking group, was named to head the new ministry of development, infrastructure and transport.Another key appointment was that of Antonio Catricala, head of the anti-trust authority, who was made under-secretary to the prime minister’s office. Despite reports that Mr Monti had sought to include politicians in his cabinet, there are none. Read Article
Editorial Comment – As we predicted in our Editorial last weekend, the New World Order and bank takeover of Italy is now complete.