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By James Mackenzie ROME (Reuters) - Italian Prime Minister Enrico Letta promised on Monday to present a formal coalition pact in January with reforms ranging from an overhaul of the electoral law to cuts to bureaucracy and taxes. Letta, appointed to head a grand coalition of left and right after last February's deadlocked elections, said 2014 would be the year in which a new generation of leaders could launch reforms to pull Italy out of two decades of stagnation. This generation will have the opportunity of changing Italy and I am convinced it can do it," 47-year-old Letta told the traditional end-of-year news conference. Italy, one of the world's biggest government debtors, has narrowly escaped being sucked into the euro debt crisis as investors worry about its weak economy and chaotic politics.More...