Monti: Italy's financial situation makes progress

ROME (AP) -- Italy's premier says the financial situation has made progress compared to last year and he believes the country will eventually emerge from the economic crisis.

Mario Monti said Sunday Italy now has more credibility and even influence in Europe, thanks to pension and other reforms passed in Parliament by what he dubbed the `'miracle" of center-right and center-left political forces pulling together.

He lamented that Italy's youths are paying a `'very high" price in bleak employment prospects because politicians put off tough decisions for years. Monti, an economist heading a government of technocrats, addressed an annual pro-Catholic convention in the Adriatic resort of Rimini.