Italy's Renzi becomes youngest-ever prime minister

Italian politician Matteo Renzi formally accepted the role of prime minister Friday, sparking hopes for a revival of the eurozone's third-largest economy, which has been badly damaged by a far-reaching recession. His appointment comes a week after he engineered a power grab within his party to unseat the country's former prime minister.

"I am aware of the responsibility, delicacy and extraordinary honor which comes from creating a government capable of bringing hope," the former mayor of Florence told journalists after nearly three hours of talks with Italian President Giorgio Napolitano.

"I will do everything possible to deserve the trust of deputies, senators and millions of Italians who are waiting for this government to provide concrete answers," he said.

With his ascension to power, Renzi, 39, becomes Italy's youngest-ever prime minister, and will head a coalition government to replace his predecessor Enrico Letta, who was widely blamed for failing to carry out promised reforms.

Renzi is depending on the same coalition partners as Letta. His center-left Democratic Party, which will remain the biggest party in government, is propped up by two smaller groupings — supporters of former Prime Minister Mario Monti and loyalists of center-right leader Silvio Berlusconi, a powerful former prime minister.

Renzi told reporters he's aiming to give a "strong message" to the international community that his government will enact electoral and economic reforms quickly.

He vowed to keep his government alive until the full parliamentary term expires in 2014.

"We aim tomorrow morning to immediately do the things that need to get done," Renzi said

Renzi unveiled his new 16-strong cabinet, which will be sworn in on Saturday, before the government goes to a vote in parliament next week.

Despite his reputation as a fresh force out to break up the old structures that have held Italy back, Renzi will also be the third prime minister in a row to reach office without winning an election and does not even have a seat in parliament.

Although Italy's constitution does not require a prime minister to win a national ballot, opinion polls suggest many Italians are concerned about the lack of a mandate from voters, and questions about how he gained office could limit his ability to push through unpopular reform measures.

The country is only just showing signs of emerging from its longest economic slump since World War Two, fighting to hold on to a crumbling industrial base and provide jobs for millions of unemployed, many of them young.

Renzi has promised swift action to create jobs, reduce taxes and cut back the stifling bureaucracy weighing on employers and business but has offered few specific policy proposals.

Al Jazeera and wire services