Italy's incoming Prime Minister Mario Monti named a new technocrat cabinet on Wednesday after being confirmed in office by President Giorgio Napolitano. He will present his policy platform in the Senate on Thursday.
Here are some early reactions to the new government:
GIOVANNI ZANNI, CREDIT SUISSE ECONOMIST FOR ITALY
The new Monti government includes ministers of high-standing, technocrats. There are no political ministers. This could be a weakness but we will see with the start of their work if there is support and clear agreement from the parliament. I expect there will be this support. The new government will be able to use its initial phase to draft measures immediately.
The measures that help are clear: they are those identified in the letter from the ECB in August and in part taken up in the letter sent to (Italy's) European partners. The primary need is to remove opposition to some of the measures and to implement them.
The government ought to take measures ... on capital and pension reform. On the pensions front, the appointment of Elsa Fornero at the welfare ministry is a guarantee. Fornero is one of the top experts on pensions.
The fact that the premier will also be economy minister is a positive factor: the focus of the government's action will be on the economy and finance and it is important the prime minister is directly responsible for all this area.
RICCARDO BARBIERI, CHIEF EUROPEAN ECONOMIST, MIZUHO
The cabinet is made up partly of people Monti knows well and trusts and partly of people who have probably been suggested to him by President Napolitano as being credible in implementing what the government decides.
It's interesting that Monti has kept the economy ministry for himself. He obviously wants to be in control of what is clearly the most critical area.
(New Industry and Infrastructure Minister) Corrado Passera clearly has political leanings (he is considered close to the centre-left) but more important is that he has been a CEO, so he is someone who can make things happen. That is very welcome.
The only question for Italy is: 'is it too late?'
ANNALISA PIAZZA MARKET ECONOMIST AT NEWEDGE STRATEGY LONDON
Mario Monti has kept the economy ministry for himself as expected. The list of ministers is perhaps a little longer than markets had expected but it seems to me that there is good mix of specialties.
A majority of names are academics with undeniable experience in their respective sectors.
I think that the choice of Passera as Industry and Infrastructure Minister is important considering the crisis originated in the financial sector.
Another important name is that of Piero Giarda, who has been undersecretary in the past and is an expert on public finances.
The new prime minister however hasn't given anything away on the programme.
(Writing by Nigel Tutt)