Monti urges action on EU leaders' growth pact

Italian Premier Mario Monti on Tuesday urged quicker action on the fiscal compact signed last spring by European Union leaders. Europe must move with "timeliness and responsiveness" on the pact's commitments, he said during a book event on Rome's historic Campidoglio, or Capitol Hill. He also praised the efforts of Germany during the current sovereign debt crisis. "If we now have an EU that helps countries make progress, much of the credit should belong to Germany," said Monti. Signed earlier this year by 25 of Europe's 27 member states, the European Union's Stability and Growth Pact calls for tighter budget discipline. The pact is seen as a key part of the EU's measures to solve the long-term problems that led to the eurozone crisis.