Italian Prime Minister Mario Monti said on Wednesday that fiscal discipline was important, though not sufficient, to achieve economic growth in his debt-laden country.

We both believe -- the UK and Italy -- that adherence to fiscal discipline is a necessary condition for growth. It is not however a sufficient condition, Monti said during a speech at the London Stock Exchange.

And we both believe that not only our individual countries but the European Union as a whole has a big role to play in order to foster economic union in a sustainable way.

(Reporting by Peter Griffiths and Keith Weir)