Italian PM asks investors to return

Italian Prime Minister Mario Monti's message to Japanese investors could not have been clearer: the crisis is over, come back.

(SOUNDBITE) (English) ITALIAN PRIME MINISTER MARIO MONTI SAYING:

"I know that Japanese investors, and particularly institutional investors, recently had practically brought down to zero their investments in Italian government securities, which were quite considerable in the past."

Speaking at a Tokyo conference, Monti says Japanese institutional investors had good reasons to dump Italian government bonds, but Rome has come a long way since then.

(SOUNDBITE) (English) ITALIAN PRIME MINISTER MARIO MONTI SAYING:

"The euro zone has gone through a crisis, a huge crisis. I believe that this crisis is now almost over, but there has been a defining, delicate moment last Autumn when Italy was becoming a component of this crisis."

With the biggest danger now passed, Monti says his government is putting in place policies and changes to bring growth and jobs back to Italy.

Monti sees labour reform as critical to the process.

(SOUNDBITE) (English) ITALIAN PRIME MINISTER MARIO MONTI SAYING:

"And this is a reform that of course is implying some resentment, some discussions, some bitter discussions in the country now, but I have the impression that a majority of Italians perceive this as a necessary step."

After taking office in November, Monti rapidly pushed through austerity measures,

But with the euro zone crisis off the boil, his recent drive to force through reforms has run into opposition.

Arnold Gay, Reuters