Euro's big four agree growth boost, split on bonds |
| Reuters - Jun 22, 2012 |
The leaders of Germany, France, Italy and Spain agreed on Friday on a 130 billion euros ($156 billion) package to try to revive economic growth in Europe but differed over whether and how to launch joint bonds to combat the euro zone's debt crisis.
After a four-way summit in Rome's Renaissance Villa Madama, Italian Prime Minister Mario Monti said the European Union should adopt a series of growth measures worth about 1 percent of the region's gross domestic product at a summit next week.
"Growth can only have solid roots if there is fiscal discipline, but fiscal discipline can be maintained only if there is growth and job creation," Monti told a joint news conference after talks that lasted just an hour and 40 minutes.
The growth measures, already in the works in Brussels, include increasing the European Investment Bank's capital, redirecting unspent EU regional funds and launching project bonds to co-finance major public investment programmes.
Read Full Article from Reuters
- Posted: 2012-06-22 11:57:24
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