Italy denies need for bail-out

Italian Prime Minister Mario Monti has said his country does not need a bail-out, even though its borrowing costs have soared amid contagion from Spain, whose recent bail-out has failed to calm markets.

"Italy even in the future will not need aid from the European Financial Stability Fund," Monti said in an interview with the German Public Radio ARD on Tuesday (12 June).

He called on investors and market analysts "not to be governed by cliches or prejudices" and argued that his c...