Who is Monti?

Mario Monti knows which way he wants to go. He said Italy has to show it is responsible and avoid "raising the doubt and prejudice that it's unreliable."

The 68-year-old economist from Varese in the northern Italy has a reputation for reliability. Almost everyone who has ever worked with Monti says as much - including Daniela Schwarzer at the German Institute for International and Security Affairs (SWP).

"He sticks to the facts, always warm and is totally reliable," Schwarzer told Deutsche Welle. "He says of himself that he has a German mind."

But more than that, Monti is a European.

He said he sees the danger of Italy's financial crisis moving towards Europe. During nine years as an EU commissioner he proved his international skills - first, for the internal market and later as the EU's competition tsar.

In his widely respected report from 2010 - which has become known as the Monti Report - the Italian described how the EU's internal market could encourage growth.

"He has a clear idea about how he would tackle the problems," said Schwarzer.

And he knows how to stay true to his ideas. That is something to which representative from the German government and large companies could attest, having dealt with Monti in his role as European commissioner for competition.

He ended public guarantees for banks and entered a dispute with the automobile industry to overcome trade barriers.

Berlusconi's scandals have blocked our heads

It is not expected that Monti would create the scandals that the media became familiar with during Silvio Berlusconi's time in office.

"These things have had terrible economic effects," Monti said of his predecessor's escapades.

"We've all - the government, politicians, and all Italians - filled our heads with these things, and on nightly talk shows," Monti said. "In other countries, people have used this time to consider less exciting things - such as asking what their countries will look like in 20 years time."

Berlusconi had recommended Monti go to Brussels in 1994.

But even the Italian government has got what it had coming. Monti said the lack of growth policies in the passed few years is to blame for the current situation.

Italy's sigh of relief

Ulla Burchardt, chairwoman of the German-Italian parliamentarian group in the German government described Monti's ascension to Italian prime minister as "a great thing for Europe."

"The financial markets should relax because Monti would be able to sort out the Italian economy," Burchardt told Deutsche Welle before Monti took over the Italian presidency.

She said she also believes Italians themselves would be happy if Monti got the top job.

"Italians feel they can breathe again because the Berlusconi era is over," Burchardt said. "The people trust Monti - they believe he does not deal in self-interest, is not corruptible, and only works in the national interest."

Monti's incorruptible style is evident in an anecdote recorded in his autobiography.

In his role as EU commissioner for competition, Monti was at the center of a dispute between the EU authorities and the American firm General Electric, which wanted to merge with the US technology firm Honeywell. The deal was being reviewed in a process known as "merger control" and even a phone call to EU Commission President Romano Prodi from the then US President Bill Clinton was unable to sway the EU from its line. By summer 2001, the $42 billion merger between Honeywell and General Electric was halted.

The memory remains a European affront to many Americans.

Author: Tobias Oelmaier / za

Editor: Sean Sinico