By
"We need to make sure there is credibility with Italy's targets that it is going to meet them. We decided to have the IMF involved on the monitoring, using their own methodology, and the Italians say they can live with that," he said. "Italy has no problem with surveillance at all, even with the IMF being involved," he said, adding the EU Commission and IMF would each report on how Italy was meeting its targets. He said a precautionary credit line was not seen to be a credible option for Italy, where one of the main problems has been market confidence in its plans.