ITALY is now a “safe place” amid market turbulence, Premier Mario Monti said in an interview published Saturday, pressing for Europe to turn its political energy to generating growth rather than further plans to strengthen budget discipline.

    Monti’s comments in an interview with the German daily Sueddeutsche Zeitung came ahead of a planned appearance at the Munich Security Conference.

    The annual gathering of security officials is tinged this year by concern about the euro zone debt crisis and comes as negotiations over a second bailout for Greece drag on.

    Monti was quoted as saying that “an uncontrolled Greek state bankruptcy would be bad for everyone” but officials will avoid it. “Nevertheless, I think Italy is now a safe place.”

    Monti’s government has been trying to regain investor confidence by cutting public spending and reforming a sluggish economy. Italy’s struggle with high borrowing costs is a cause for concern because the country is considered too big to rescue if it gets into deeper trouble.

    Efforts to get a grip on the euro zone debt crisis, which have been shaped by Germany, have drawn criticism for focusing on austerity rather than growth. Most European Union leaders have agreed on a German-pushed pact to strengthen budget discipline.

    “These budget rules have permeated every cell of the European body,” Monti was quoted as saying. “The problem is off the table.”(SD-Agencies)