European Commission chairman Manuel Barroso and German Chancellor Angela Merkel declared, Italy has asked the International Monetary Fund (IMF) to examine its budgetary reforms closely.

Rome / NationalTurk – ‘ Italy has decided on its own to ask the IMF to monitor the implementation, ‘ Manuel Barroso told reporters at the end of the G20 summit in Cannes dominated by increasing debt crises in Italy and Greece.

German Chancellor Merkel confirmed at a separate news conference that the Italian government had agreed to quarterly reports on its reforms.

‘We have explicitly agreed today that the IMF and European Commission should present their reports (about Italy) quarterly,’ Merkel stated.

Berlusconi: Italy debt crisis dominates G20 summit

An Italian government execıtive had earlier denied that the agreement implied a formal ‘monitoring’ mechanism, and stated instead that Rome would seek ‘advice’ from the International Money Fund on the issue.

Italian Prime Minister Silvio Berlusconi arrived for a meeting on November 4, 2011 on the second day of the G20 Summit of Heads of State and Government in Cannes and led the talks on Italian behalf.

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