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Mario Monti

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Mario Monti

Senator for life
Mario Monti
54th Prime Minister of Italy
In office
16 November 2011 – 28 April 2013
President Giorgio Napolitano
Preceded by Silvio Berlusconi
Succeeded by Enrico Letta
Minister of Foreign Affairs
(ad interim)
In office
26 March 2013 – 28 April 2013
Preceded by Giulio Terzi di Sant'Agata
Succeeded by Emma Bonino
Minister of Economy and Finances
In office
16 November 2011 – 11 July 2012
Preceded by Giulio Tremonti
Succeeded by Vittorio Grilli
European Commissioner for Competition
In office
15 September 1999 – 30 October 2004
President Romano Prodi
Preceded by Karel Van Miert
Succeeded by Neelie Kroes
European Commissioner for Internal Market, Services, Customs and Taxation
In office
18 January 1995 – 15 September 1999
President Jacques Santer
Preceded by Raniero Vanni d'Archirafi
Succeeded by Frits Bolkestein
Personal details
Born (1943-03-19) 19 March 1943
Varese, Italy
Political party Independent
Civic Choice (2013)
Spouse(s) Elsa Antonioli
Children Federica
Alma mater Bocconi University
Yale University
Religion Roman Catholicism
Website Official website
This article is part of a series about
Mario Monti
  • Political offices

Senator for life (2011– )
Prime Minister (2011–2013)
Minister of Economy and Finance (2011–2012)

  • Elections

Mario Monti OMRI (born 19 March 1943) is an Italian economist who served as the Prime Minister of Italy from 2011 to 2013, leading a government of technocrats in the wake of the Italian debt crisis.

Monti served as a resignation of Silvio Berlusconi. Monti was sworn in as Prime Minister on 16 November 2011, just a week after having been appointed a Senator for Life by President Napolitano, and initially became Minister of Economy and Finances as well, giving that portfolio up the following July. From 16 May 2013 to 17 October 2013 Monti was the President of Civic Choice, a centrist[1] political party.


  • Early life 1
  • Academic career 2
  • European Commissioner 3
    • Santer Commission 3.1
    • Prodi Commission 3.2
    • Barroso Commission 3.3
  • Prime Minister of Italy 4
    • Appointment 4.1
    • Austerity measures 4.2
    • Labour market reforms 4.3
    • 2013 election 4.4
  • Political career 5
    • Senator for life 5.1
    • President of Civic Choice 5.2
  • Think tanks 6
  • Personal life 7
  • Awards and decorations 8
  • See also 9
  • References 10
  • External links 11

Early life

Monti was born in Varese on 19 March 1943.[2] His mother was from Piacenza. Although his father grew up in Varese, he was born in Luján in the Buenos Aires Province, Argentina, where his ancestors had emigrated to in the 19th century and built up a soft-drink and beer-production business.[3][4] Monti's father went back to Argentina during World War II, but later returned to his family home in Varese.[5]

Monti studied at the private Leo XIII High School and attended Bocconi University of Milan, where he obtained a degree in economics in 1965. Later, he won a scholarship to Yale University where he studied under James Tobin, a recipient of the Nobel Prize in Economics.[6][7]

Academic career

Monti began his academic career at the University of Trento, before moving to teach economics at the University of Turin from 1970 to 1985, and finally to Bocconi University, where he was appointed Rector in 1989, and President in 1994. He also served as President of the SUERF (The European Money and Finance Forum) from 1982 to 1985.[8] His research helped to create the "Klein-Monti model", aimed at describing the behaviour of banks operating under monopoly circumstances.[9]

European Commissioner

Santer Commission

In 1994, Monti was appointed to the Santer Commission, along with Emma Bonino, by Prime Minister Silvio Berlusconi. In his office as a European Commissioner from 1994 to 1999, he was responsible for internal market, financial services and financial integration, customs, and taxation.[10] His work with the Commission earned him the nickname "Super Mario" from his colleagues and from the press.[11]

Prodi Commission

Mario Monti served as a European Commissioner from 1995 to 2004.

In 1999, Prime Minister Massimo D'Alema confirmed Monti's appointment to the new Prodi Commission and he was given one of the most powerful positions at the Commission, with responsibility for Competition.[12]

As Competition Commissioner, Monti led the investigation into a number of high-profile and controversial mergers, including: Scania AB & Volvo (1999),[13] WorldCom & Sprint (2000),[14] General Electric & Honeywell (2001), Schneider Electric & Legrand (2001)[15] and Carnival Corporation & P&O Ferries (2002).[16] His term in office also saw the European Court of Justice, for the first time, overrule the Commission's decision to block a merger in three separate cases, although two were decided by his predecessor.[17] Monti was also responsible for levying the EU's largest ever fine at the time (€497 million) against Microsoft for abusing its dominant market position in 2004.[18]

Monti was criticised in the media and by competition lawyers for the perceived inflexibility of the merger oversight process and the high number of cases that were being blocked.[13][19][20] On 1 November 2002, Monti responding to the European Court of Justice's ruling which reversed his decision to block the merger between Airtours & First Choice Holidays said, "Last week was a tough week for the Commission's merger control policy and of course for me."[17][20] This ruling in combination with his decision to block the General Electric & Honeywell merger led to criticism in the United States against both the Commission's procedures and accusations that Monti's decisions were politically motivated.[21] Monti, however, was defended by supporters who saw his actions as an important step in the development of competition law in the EU. Dan Rubinfeld, economics professor at the University of California who worked on the US Justice Department's antitrust case against Microsoft, said of Monti, "There has been a lot of talk of politics in this and other cases, but I believe he has been driven entirely by the desire to do the right thing."[17]

On 11 December 2002, Monti proposed a series of reforms to the EU's merger rules and made structural changes within the Commission's Competition department which aimed to improve transparency for companies throughout the merger review process.[22] The reforms were adopted by the EU as Regulation 139/2004 (known as ECMR).

In 2004, Prime Minister Silvio Berlusconi returned to power in Italy and chose not to re-appoint Monti to the Commission when his second term ended.[23]

Barroso Commission

In 2010, Monti was asked by Commission President Manuel Barroso to draft a "Report on the Future of the Single Market" proposing further measures towards the completion of the EU's Single Market.[24][25] The published report, adopted by the EU on 13 April 2011, proposed 12 reforms to the Single Market and was intended to "give new momentum" to the European economy.[26]

Prime Minister of Italy


Monti's Cabinet swearing-in ceremony at the presence of Napolitano.

On 9 November 2011, Monti was appointed a

Academic offices
Preceded by
Luigi Guatri
Rector of Bocconi University
Succeeded by
Roberto Ruozi
Preceded by
Giovanni Spadolini
President of Bocconi University
Political offices
Preceded by
Raniero Vanni d'Archirafi
Antonio Ruberti
European Commissioner from Italy
Served alongside: Emma Bonino, Romano Prodi
Succeeded by
Franco Frattini
Antonio Tajani
Preceded by
Raniero Vanni d'Archirafi
European Commissioner for Internal Market, Services, Customs and Taxation
Succeeded by
Frits Bolkestein
Preceded by
Karel Van Miert
European Commissioner for Competition
Succeeded by
Neelie Kroes
Preceded by
Giulio Tremonti
Minister of Economy and Finances
Succeeded by
Vittorio Grilli
Preceded by
Silvio Berlusconi
Prime Minister of Italy
Succeeded by
Enrico Letta
Preceded by
Giulio Terzi di Sant'Agata
Minister of Foreign Affairs
(ad interim)

Succeeded by
Emma Bonino
Party political offices
Preceded by
Andrea Riccardi
President of Civic Choice
Succeeded by
Alberto Bombassei
(ad interim)

External links

  1. ^
  2. ^
  3. ^ "Monti d'Italia e d'Argentina – Il Grande Sud" (in Italian). Il Sole 24 Ore. 17 November 2011. Retrieved 30 December 2011.
  4. ^ "Mario Monti, el sucesor de Berlusconi, es hijo de un argentino" (in Spanish). La Nación. 14 November 2011. Retrieved 30 December 2011.
  5. ^ Camanzini, Enrico. "Mario Monti, dalla città giardino al Palazzo Madama: I ricordi delle gite sui monti delle Prealpi" (in Italian). Il Giorno. 12 November 2011. Retrieved 17 November 2011.
  6. ^ a b Public hearing: Strengthening economic governance in the EU (Brussels, 13 January 2011) — Curriculum vitae of speakers. Retrieved 12 November 2011.
  7. ^
  8. ^
  9. ^ Matthews, Kent and Thompson, John (2008). The economics of banking, Chapter 6: The Theory of the Banking Firm, pp. 77–91. Wiley. Retrieved 13 February 2012.
  10. ^
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  13. ^ a b
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  16. ^
  17. ^ a b c
  18. ^
  19. ^
  20. ^ a b
  21. ^
  22. ^
  23. ^
  24. ^
  25. ^ Report on the future of the Single Market, 2010
  26. ^
  27. ^
  28. ^
  29. ^
  30. ^
  31. ^ "Monti Unveils Technocratic Cabinet for Italy" (16 November 2011). BBC News. Retrieved 17 November 2011.
  32. ^
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  43. ^ a b
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  49. ^ Monti si dimette da Scelta Civica: "11 senatori più Mauro mi hanno sfiduciato"/
  50. ^
  51. ^
  52. ^
  53. ^ European Commission – Economic and Financial Affairs. Brussels Economic Forum 2009, speakers: "Mario Monti". Retrieved 19 November 2011.
  54. ^
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  56. ^ Commission Attali
  57. ^
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  60. ^ a b
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See also

Knight Grand Cross of the Order of Merit of the Italian Republic – awarded on 29 November 2004[61]
Commander of the Order of Merit of the Italian Republic – awarded on 27 December 1992[62]

Awards and decorations

Known for his reserved character, Monti acknowledges not being especially sociable.[60] He said that his youth was given over to hard study; spare-time activities included cycling and keeping up with world affairs by tuning into foreign short-wave radio stations.[60]

Since 1970 Monti has been married to Elsa Antonioli (born 1944),[58] an Italian Red Cross volunteer, by whom he has two children, Federica and Giovanni.[59]

Personal life

Since January 2014, Monti has been Chairman of the High Level Group on Own Resources, a consultative committee of the European Union that will propose new forms of revenue for the European Union's budget.

Monti is a founding member of the Jacques Delors, Daniel Cohn-Bendit, Guy Verhofstadt, Andrew Duff and Elmar Brok).

In 2007, Mario Monti was one of the first supporters of the first European civic forum, États Généraux de l'Europe, initiated by European think tank EuropaNova and European Movement. He was also a member of the French government's Attali Commission from 2007 to 2008,[6][56] appointed by Nicolas Sarkozy to provide recommendations to enhance economic growth in France.

Monti is a leading member of the exclusive Bilderberg Group.[51] He has also been an international advisor to Goldman Sachs[52] and The Coca-Cola Company.[53] He has also been a member of the "Senior European Advisory Council" of Moody's[54] and he is one of the members of the "Business and Economics Advisors Group" of the Atlantic Council.[55]

Monti actively participates in several major think tanks. He is a member of the Praesidium of Friends of Europe. He was the founding chairman of Bruegel, another European think tank, which was formed in 2005. He was the European Chairman of the Trilateral Commission until being sworn in as prime minister in 2011.[50]

Think tanks

On 4 January 2013, Monti launched Civic Choice as an electoral list of the civil society, to realize the implementation of his agenda in a future government. SC was announced as part of the With Monti for Italy (CMI) centrist coalition, alongside Union of the Centre (UdC) and Future and Freedom (FLI). In the 2013 general election the party obtained 8.3% of the vote, 37 deputies (on own lists) and 15 senators (within CMI). On 12 March 2013, Civic Choice was turned into a political party as Monti took office as acting SC president in the Provisional Committee of the party and appointed senator Andrea Olivero as provisional political coordinator. On 16 May 2013, Mario Monti was unanimously elected president of the Civic Choice. On 17 October 2013 he resigned.[49]

President of Civic Choice

On 9 November 2011, Monti was appointed a lifetime senator by Italian President Civic Choice (SC) parliamentary group, becoming the first lifetime senator aligned to a party group. On 7 May 2013, he became a member of the Commission for Foreign Affairs and Emigration.

Senator for life

Political career

The election was held on 24 February 2013, and Monti's centrist coalition was only able to come fourth, with 10.5% of the vote. Monti remained Prime Minister until a coalition was formed on 28 April led by Enrico Letta.[48]

On 21 December 2012, Monti announced his resignation as Prime Minister, having made a public promise to step down after the passing of the 2012 Budget. He initially stated that he would only remain in office until an early election could be held.[47] However, on 28 December, he announced that he would seek to remain Prime Minister by contesting the election, as the leader of a centrist coalition, the Civic Choice.

2013 election

On 20 January 2012, Monti's government formally adopted a package of reforms targeting Italy's labour market. The reforms are intended to open certain professions (such as taxi drivers, pharmacists, doctors, lawyers and notaries) to more competition by reforming their licensing systems and abolishing minimum tariffs for their services.[40][41] Article 18 of Italy's labour code, which requires companies that employ 15 or more workers to re-hire (rather than compensate) any employee found to have been fired without just cause,[42][43] would also be reformed. The reforms to Article 18 are intended to make it easier for companies to dismiss or lay-off employees, which would hopefully encourage companies to hire more employees on permanent rather than short-term renewable contracts.[43] The proposals have been met by strong opposition from labour unions and public protests.[44] In early January 2012, consultations between the government and labour unions commenced[45] and on 13 February it was reported in the Italian media that a compromise on the proposals was very close and the government was hopeful that reforms could be approved by the Italian parliament in March.[46]

Labour market reforms

On 4 December 2011, Monti's government introduced emergency austerity measures intended to stem the worsening economic conditions in Italy and restore market confidence, especially after rising Italian government bond yields began to threaten Italy's financial stability.[36] The austerity package called for increased taxes, pension reform and measures to fight tax evasion. Monti also announced that he would be giving up his own salary as part of the reforms.[37] On 16 December 2011, the Lower House of the Italian Parliament adopted the measures by a vote of 495 to 88.[38] Six days later the Upper House gave final approval to the package by a vote of 257 to 41.[39]

Austerity measures

[35][34] voting against.Lega Nord both passed motions of confidence supporting Monti's government, with only Italian Chamber of Deputies and Italian Senate On 17 and 18 November 2011, the [33][32].Minister of Economy and Finances He also chose to hold the post of [31].professionals composed entirely of unelected cabinet technocratic, after unveiling a Prime Minister of Italy On 16 November 2011, Monti was sworn in as [30] Monti accepted the offer, and held talks with the leaders of the main Italian political parties, declaring that he wanted to form a government that would remain in office until the next scheduled general elections in 2013.[29] On 12 November 2011, following Berlusconi's resignation, Napolitano invited Monti to form a new government.[28] He was seen as a favourite to replace Silvio Berlusconi to lead a new unity government in Italy in order to implement reforms and austerity measures.[27]

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