Italy, Spain Calling For Massive Increase in EU Bailout Fund
January 23, 2012
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Europe Update: Italy’s PM Calls For €500 Billion Increase in ESM
Italy's Prime Minister Mario Monti said Monday the new ESM must be doubled to €1 trillion to restore investor confidence in southern European debt.
Citing a Der Spiegel article, the daily Telegraph is reporting that leaders from both Italy and Spain are calling for a massive boost to the EU rescue fund.
The leaders have also said that a blast of monetary stimulus by the ECB is needed.
The calls would appear to put Italy and Spain on a collision course with Germany over the handling of the Eurozone crisis.
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