Barroso, Monti discuss situation in Italy following elections

President of the European Commission Jose Manuel Barroso met Italian Prime Minister Mario Monti here Wednesday evening to discuss the situation in Italy following last weekends indecisive elections that have led to a political stalemate in the country.  In a joint declaration after the meeting, Barroso "expressed his full confidence that Italy, as one of Europe's and the world's biggest economies, will ensure the conditions of political stability in the interest of Italy and Europe as a whole." Regarding the economic situation of Italy the EUs executive body believes, noted the statement, that Italy is undergoing an ambitious reform process that, if fully implemented, will significantly raise its growth potential. Barroso underlined that the European Commission remains committed to assist Italy and all the other EU Member States in this challenge.  "Both are convinced that continued and determined action at European and national levels is needed to ensure that the return of confidence into the euro area is sustained. The crisis is not yet over and efforts must not be relaxed," stressed the joint declaration.  The two leaders also discussed the preparation for the upcoming EU summit in Brussels in March.  Meanwhile, Italian comedian-turned-politician Beppe Grillo, whose Five-Star Movement (M5S) came third in elections, has ruled out a coalition with the Democratic Party of Pier Luigi Bersani who won a majority in the Chamber of Deputies but not in the Senate. Monti's centrist alliance won the fourth place in the elections.