The Italian leader, who was greeted warmly by supporters at the Ambrosetti forum in Lake Como, Italy, said he plans to keep Italy on track to return to economic growth sometime in 2013. Monti, whose term expires in April 2013, said he has no plans to stay on beyond that.

The prime minister has been able to stabilize the Italian economy and markets with his programs to raise taxes and cut spending as he seeks to balance the budget and rein in debt that is some 120 percent of the country's gross domestic product.

[More From CNBC: German Media Hit Back at ECB on Bond Buying]

Monti also said he is trying hard to avoid having to institute an increase in the so-called VAT tax but is continuing to raise revenue elsewhere and make labor markets more flexible. He said he's not considering a so-called sin tax on cigarettes and alcohol.