Italy has reiterated the need to ease the Germany-led austerity policies that are intended to quell the euro zone debt crisis.

Italian Prime Minister Mario Monti on Wednesday called for an adjustment to the current belt-tightening budget prescription so governments can boost investment and spending.

The Bank of Italy’s director-general, Fabrizio Saccomanni, also urged the European Central Bank to actively work to resolve the European fiscal crisis.

However, Germany’s central bank refuted that changing monetary policies is not the recipe for removing the real cause of the debt crisis.