Monti seeks to steady Italian ship

Economist Mario Monti has accepted the monumental task of trying to form a new government that can rescue Italy from financial ruin – expressing confidence that the nation can beat the crisis if its people pull together.

His selection came a day after Silvio Berlusconi reluctantly resigned as premier, bowing out after world markets pummelled Italy’s borrowing ability, reflecting a loss of faith in the 75-year-old media mogul’s leadership.