Nov. 16 - Sworn in as Italy's new prime minister, Mario Monti and his new government face the task of fixing the country's debt crisis. Sarah Irwin reports.
Mario Monti is sworn in as Italy's new prime minister - forming a new technocrat government - tasked with fixing the country's debt crisis. With Italy's financial woes threatening the entire euro zone, President Giorgio Napolitano swore in the 16-member government - ending a political crisis facing a country on the brink of economic disaster. European marketwatchers are hoping Monti -- a former European Commissioner -- will bring stability to the country once dominated by the leadership of flamboyant former Prime Minister Silvio Berlusconi. Earlier in the day Monti - presented his cabinet, which includes a mix of academics and administrators. SOUNDBITE: Italian Prime Minister Mario Monti (Italian) "I hope that with good and serious governance and with their (the politicians) support, me and my government can make a contribution and bring reassurance and cohesion amongst the political forces." Attending a handover ceremony in Rome - Berlusconi handed Monti a silver bell - before departing the government building. Monti used the bell - to open the start of his first cabinet meeting. The former economics professor said he would bring an austerity program to the Senate on Thursday -- the beginning of crucial reforms demanded by Europe's leaders to stem a crisis at the heart of the euro zone's problems. Sarah Irwin, Reuters.