Leader Of The World's Eighth Biggest Economy: There Is Only One Week Left To Save The Euro

Italian prime minister Mario MontiItalian prime minister Mario Monti

Photo: Sean Gallup/Getty Images

Italian Prime Minister Mario Monti says that leaders of the EU have until next week’s summit to save the euro.At the summit, Monti will hold talks with Angela Merkel of Germany, François Hollande of France, and Mariano Rajoy of Spain, the Guardian’s John Hooper reports.

The Italian premier told the Guardian that Europe would splinter if leaders fail to come to an agreement to address the crisis this week as borrowing costs pressure the periphery nations.

But more importantly, countries are becoming less inclined to push for integration.

“Public opinion, but also that of the governments and parliament… will turn against that greater integration,” he said.

Monti also told the Guardian, “there would be progressively greater speculative attacks on individual countries, with harassment of the weaker countries.” Monti added that Italy would be one such country.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.