Saturday, 23 June 2012

Eurozone four leaders agree economic growth package

Leaders of the eurozone's four biggest nations have agreed in principle to measures to boost growth equal to 1% of the currency area's economic output.
Germany, France, Italy and Spain outlined plans to push for a 130bn-euros (£104bn; $163bn) package.
But analysts suggest that with little or no new money involved, the significance of the agreement between the four was more symbolic than actual.
There is also still no consensus on issues such as common eurobonds.
"We want there to be a significant European growth package," said Italian PM Mario Monti.
He appeared at the press conference alongside Spanish PM Mariano Rajoy, German Chancellor Angela Merkel and French President Francois Hollande.
The four met in Rome ahead of an EU summit on the euro crisis next week.
The growth package is expected to comprise several measures already in the works to boost spending on infrastructure and other investments, backed by European taxpayer money:

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