Vittorio Grilli appointed Italy's new Finance Minister (Barcelona) - Italian PM Mario Monti, who until today has also held the post of Finance Minister, appointed Vittorio Grilli to the position today. Until now the Italian economist served as Deputy Finance Minister in Monti's cabinet. Before that he was director general of the Italian Treasury.

Apart from naming the new Finance Minister, Mario Monti announced on Wednesday that a special committee will be created in order to supervise the Italian economic and financial policy. Monti, Grilli and Bank of Italy Governor Ignazio Visco as well as the Economic Development Minister Corrado Passera will take part in the committee.