With the Group of G20 leaders working to contain the crisis and ensure stability the calls on Italy to get its cards straight intensified and forced Italy into accepting the expertise of the IMF and the EU.

According to European Commission President Jose Manuel Barroso Italy has asked the IMF to oversee its budgetary measures, where Italy that is pressured by markets with the high debt of 120% of the GDP can still mange its crisis with the deficit containable once they enact the necessary reforms.

Rome will allow the IMF and EU to monitor its reform, and Barroso confirmed the news from Cannes. In an agreement with the leaders Berlusconi agreed to have the IMF and the EU issue quarterly reports assessing their progress and performance on reform promises.