Italy's latest — unelected — prime minister has already attracted international praise with former U.K. premier Tony Blair describing Matteo Renzi as "dynamic, creative and strong." But with no experience in the Italian parliament, or national politics, analysts are concerned that Matteo Renzi may need superhuman strength to maintain his bold reform plans.
Tuesday sees Premier-designate Renzi start trying to form a grand coalition before a formal vote of confidence in parliament later this week. This comes after President Giorgio Napolitano met with Renzi on Monday and gave him a mandate to form a government, after Enrico Letta tendered his resignation last week.
(Read More: Italy's Matteo Renzi to begin coalition talks)
Speaking on Monday, 39-year old Renzi said that he aims to overhaul the country's electoral system and constitution before the end of February. In March, the focus of the new government would shift to labor reforms, he added, followed by the reform of the public administration in April and the fiscal system in May.
Renzi took to social media site Twitter on Monday to state his intentions saying: "With all the energy and the courage that we have," adding a hashtag of "la volta buona", which translates as "the right time."
Meanwhile, Blair – with whom the charismatic young Renzi has been compared - told Italy's ANSA news agency that he had his full backing.
"The challenges are absolutely formidable," he said. "He has the right combination of realism and idealism for the times we are living in."
(Read More: Renzi set to become Italy's youngest prime minister)
Described as "ambitious" by the Italian press on Tuesday, the reform package will give Renzi a new task every month until May. Ratings agency Fitch cast doubt on the pace of the economic changes on Monday afternoon, which it believes would boost Italian competitiveness and growth, and comply with EU and Italian fiscal rules.