Corrado Passera, CEO of the Intesa Sanpaolo banking group, was named to head the new ministry of development, infrastructure and transport.

Another key appointment was that of Antonio Catricala, head of the anti-trust authority, who was made under-secretary to the prime minister's office.

Despite reports the former EU Commissioner had sought to include politicians in his cabinet, there are none.

"The absence of political personalities in the government will help rather than hinder a solid base of support for the government in parliament and in the political parties because it will remove one ground for disagreement," he said.

Mr Monti still faces a confidence vote at the Senate on November 17 and at the lower house one day later.

He is tasked with reducing public debt of 1.9tn euros ($2.6tn; £1.6tn) and restoring economic growth.

Borrowing costs for the government have soared in recent weeks, to levels at which Ireland, Portugal and Greece needed emergency bailouts.