Italian Prime Minister Mario Monti will select his Cabinet today after concluding two days of talks with political leaders yesterday, where he will name his ministers in front of the Italian President Giorgio Napolitano at 11 a.m. on Thursday.

Monti aims to cut the country's huge budget deficit, the second largest in the euro area, amid the remarkable rise seen last and this week in Italian bond yields which climbed above 7%, thereby making the process of payback at maturity time a difficult task.