Italy's Monti gears up for key week of debt talks

Italian Premier Mario Monti began on Monday what promises to be a whirlwind first week in office with a phone call with President Barack Obama and his first Cabinet meeting, during which he pledged speedy new measures to combat the countrys debt crisis.Montis inaugural week will continue with meetings with key European officials to map out a strategy for combatting the debt crisis.During a cordial phone call, Obama said he hoped to meet Monti soon and asked the premier to remain in close contact on the financial crisis and international issues, noting they both have forces in Libya, Afghanistan, Lebanon and Kosovo, Montis office said in a statement. President Obama expressed his full confidence in the premier, also in light of his recognized experience on the European and international stage, as well as the high competence of the members of the new government, the statement said.Earlier Monday, during his first formal meeting with his ministers, Monti outlined the agenda and possible approaches to find efficient measures to ensure the stability of the euro, according to a separate statement, which didnt provide details.He also briefed the ministers all experts including bankers, professors and business executives without previous governmental experience on procedures to agree in the shortest possible period on specific measures to present to Parliament.The ministers approved a decree concerning the administrative functions of the capital Rome, as well as extending states of emergency for areas hit by recent flooding and measures to deal with an influx of illegal migrants.Monti has pledged to reform the pension system, re-impose a tax on homes annulled by Berlusconis government, fight tax evasion, streamline civil court proceedings, get more women and youths into the work force, and cut political costs.