Reuters: German Economy Minister says no alternative to Italy reforms

26 February 2013

German Economy Minister Philipp Rösler said he could have imagined a better outcome for pro-reform parties in Italian elections, and added that the eurozone's third largest economy needed to continue to implement reforms.

"There is no alternative to the structural reforms that are already underway and which include consolidating the budget and boosting competitiveness", Rösler said in a statement, adding that all parties in the country needed to help stabilise the heavily-indebted state.

Italy faces political deadlock after a stunning election that saw the anti-establishment 5-Star Movement of comic Beppe Grillo become the strongest party in the country but left no group with a clear majority in parliament.

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