Italy's new premier-designate economist Mario Monti leaves the hotel to start talks with parties' representatives in Rome, Monday, Nov. 14, 2011. Italian borrowing costs are well below dangerous levels Monday, as markets express confidence in the prospect that leading economist Mario Monti will form a new government without politicians. Italian president Giorgio Napolitano tapped Monti on Sunday to create a government of experts to implement structural economic reforms aimed at bringing down Italy's stubbornly high public debt. (AP Photo/Pier Paolo Cito)
Italy's new premier-designate economist Mario Monti leaves the hotel to start talks with parties' representatives in Rome, Monday, Nov. 14, 2011. Italian borrowing costs are well below dangerous levels Monday, as markets express confidence in the prospect that leading economist Mario Monti will form a new government without politicians. Italian president Giorgio Napolitano tapped Monti on Sunday to create a government of experts to implement structural economic reforms aimed at bringing down Italy's stubbornly high public debt. (AP Photo/Pier Paolo Cito)
Italian President Giorgio Napolitano talks with journalists after meeting with Italy's new premier-designate economist Mario Monti at the Quirinale Presidential Palace in Rome, Sunday, Nov. 13, 2011. Monti received the formal mandate from President Giorgio Napolitano and must now draw up a Cabinet, lay out his priorities and see if he has enough support in Parliament to govern effectively. (AP Photo/Pier Paolo Cito)
ROME (AP) ? Italy easily raised euro3 billion ($4.1 billion) from markets, though at a higher cost, as premier-designate Mario Monti began talks on forming a new government of experts to guide the country through financial crisis.
While the treasury raised the maximum amount sought in a sale of five-year bonds, market sentiment remained cautious. Investors demanded an interest rate of 6.29 percent on Monday, the highest level since 1997, compared with 5.32 percent at a similar auction a month ago.
Italian president Giorgio Napolitano tapped Monti to create a government of politically neutral experts to bring down stubbornly high public debt.
Napolitano emphasized that euro200 billion ($273 billion) in Italian debt comes due through the end of April ? requiring decisive action.
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