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PM-designate unveils cabinet of new Italian gov't

(Xinhua)

08:44, November 17, 2011

Newly appointed Prime Minister Mario Monti(Xinhua)

ROME, Nov. 16 (Xinhua) -- Italy's prime minister-designate Mario Monti on Wednesday unveiled the list of ministers for his emergency government aimed at saving the country from the European debt crisis.

"I am confident in my choice, and I wish markets will do the same," Monti said at a press conference after an over two-hour meeting with President Giorgio Napolitano at which he formally accepted the mandate and presented the list of new ministers.

Monti, a 68-year-old unelected and highly respected economist, formed a team of 12 technocrats (including himself and three women) who will be responsible for implementing the austerity policies requested by the European Union (EU) to ward off a dramatic debt-driven financial crisis.

There are no figures linked to any political party in the cabinet, which was seen by Monti as a guarantee of stability.

According the list of new government, Monti will act as interim Finance minister. He named Corrado Passera, CEO of Intesa Sanpaolo bank, as the economic development minister, and Italian Ambassador to the United States Giulio Maria Terzi di Sant'Agata as foreign minister.

President of the Antitrust Authority Antonio Catricala was named as the Council of Ministers' undersecretary, while Admiral Giampaolo Di Paola, the chairman of NATO's Military Committee, will be the defence minister.

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