Spain and Italy insist on increasing ESM

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Source: Forexfactory
Spain and Italy called for an essential increase of the rescue fund of the EU and a boost of the financial stimulus by the ECB. Mario Monti said that the ESM has to be doubled to EUR 1 trillion to improve investor confidence in the indebted states; the move was supported by Spanish foreign minister. The measure followed Angela Merkel's announcement that debtors' fatigue of austerity measures is increasing and creditor states have to do more to lower the borrowing and correct imbalances between Southern and Northern Euro Zone countries.

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Mon, 23 Jan 2012 10:12:57 GMT

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