Italy met its goal of raising more than $4 billion in a bond sale Monday.

Though the interest rate for the five-year bonds was the highest since 1997, buyer response was good, indicating that economic worries have eased somewhat since economist Mario Monti was tapped to be the next Italian prime minister.

Mr. Monti, said Sunday he will work quickly to form a new government, as he tries to lead the eurozone’s third largest economy out of a debt crisis.

The prime minister-designate must present the names of his Cabinet ministers to Italian President Giorgio Napolitano before he can be sworn in. He is expected to announce his choices Monday.

Mr. Monti, a former European Union competition commissioner, received support for the top job from major opposition parties and some members of former prime minister Silvio Berlusconi’s ruling center-right PDL party.

Mr. Monti has never held elected office in Italy and does not represent any Italian political party. He would lead the country until the next elections, due by 2013.

The new government faces the challenge of implementing a major austerity package approved by parliament in the past week to reduce the country’s huge public debt. European Union leaders welcomed the news of Mr. Monti’s appointment, saying it is an “encouraging sign,” but promised to keep monitoring the situation in Italy.

EU leaders have been pressuring Italy to cut public spending to avoid becoming the latest eurozone member to request a bailout. EU officials worry that the Italian economy is too big to be rescued, and they fear its demise would be a major blow to the euro.

Mr. Berlusconi submitted his resignation late Saturday, hours after parliament gave final approval to the austerity package.