New Italian PM Monti prefers a new govt sans politicians

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ROME (agencies and web-sites): Italy's premier-designate Mario Monti began talks on Monday to create a new government of non-political experts tasked with overhauling an ailing economy to keep market fears over the country from threatening the existence of the euro. Investors initially cheered Monti's appointment, following quickly on Silvio Berlusconi's weekend resignation, though concern lingered about the sheer amount of work his new government will have to do to restore faith in the country's battered economy and finances. President Giorgio Napolitano tapped Monti on Sunday to create a government capable of implementing economic reforms aimed at reviving stagnant growth to bring down public debt, stuck near 120 percent of GDP. Monti pledged to act "with a sense of urgency" to identify ministers in the new government but said he would also take the time necessary's to secure a strong team. He was meeting various political parties throughout the day to garner support for his mission. The head of the lower chamber of Parliament, Gianfranco Fini, said he expects the new Monti government to be confirmed by Friday. Under pressure from markets, Italy's political machinery has been moving with rare efficiency - both houses passed fresh austerity and reform measures within two days, paving the way for Berlusconi's resignation. Improving market confidence in Italy is crucial to the future of the eurozone as the country would be too expensive to rescue. A default on its ?1.9 trillion ($2.6 trillion) in debt would cause massive chaos in financial markets and shake the global economy. As in Greece, where a new government of technocrats also took over last week, the hope is that administrations of experts not affiliated to parties will be more willing to make the tough but necessary decisions that politicians have so far balked at. Monti appeared to have the respect of many Italians, eager to see an end to the financial crisis that threatens their own well-being. "In my opinion he will be better than what we had before, obviously. He seems to me to be a person who is serious, normal and with experience," said Bernardo Albrigo, in the Campo Dei Fiori open-air market in central Rome.