Does Mario Monti have the toughest job in Europe?

On Sunday evening Mario Monti was handed the task of forming an emergency government in Italy.

Italians will be hoping that the well-respected economist will help restore the country's credibility and push through tough austerity measures.

Between 1994 and 2004 Mr Monti was a European commissioner in Brussels where he developed a reputation as a tough negotiator.

He has always been a staunch defender of the euro so all eyes will be on how European markets respond.

Mariana Mazzucato from the University of Sussex assesses the task facing Mario Monti.