Italy and Spain pass key bond tests We have to exploit the full potential of an integrated continent to grow more. And this has not been done up until now. It has not been done by the European institutions or by the biggest member states," he said. Mr Monti said he was planning meetings with British Prime Minister David Cameron and Polish Prime Minister Donald Tusk because their countries had a strong vision of market-oriented growth that Europe could follow. He will also host French President Nicolas Sarkozy and German Chancellor Angela Merkel in Rome next week ahead of a summit of European leaders on January 29 where the debt crisis will once again take centre stage. Mr Monti also said that once new European budget discipline rules are in place "it is possible that the European Central Bank ... can feel more relaxed" - an apparent reference to greater ECB assistance. The former European competition commissioner has vowed to make Italy, the eurozone's third largest economy, an international player again. "Italy has to play an active role in helping to bring Europe back to a path of growth and stability," he said in his speech. With a debt mountain of €1.9 trillion, an economy headed into recession and alarmingly high borrowing costs, Italy has been a focus for investor concern about the debt-hit eurozone in recent months. Italy has a challenging year ahead on the debt markets as it needs to raise some €450bn and in its last auction of long-term debt last month rates remained close to the danger threshold of 7pc. Financial markets responded positively to the Italian and Spanish bond auctions on Thursday, with the Milan stock exchange shooting up 2.8pc while Madrid added 1.4pc. Investors were also awaiting an interest rate decision later on Thursday by the ECB, which has cut interest rates the past two months but was widely expected to hold its fire to wait and see what impact those moves were having. Eurozone interest rates are currently at a historical low of 1pc.