SPAIN: Italian Prime Minister Mario Monti meets with Spain's Prime Minister Mariano Rajoy
Record ID:
863931
SPAIN: Italian Prime Minister Mario Monti meets with Spain's Prime Minister Mariano Rajoy
- Title: SPAIN: Italian Prime Minister Mario Monti meets with Spain's Prime Minister Mariano Rajoy
- Date: 2nd August 2012
- Summary: MADRID, SPAIN (AUGUST 2, 2012) (REUTERS) EXTERIOR OF SPANISH PRIME MINISTER'S RESIDENCE LA MONCLOA MOTORCADE ARRIVING PHOTOGRAPHERS ITALIAN PRIME MINISTER MARIO MONTI WALKING OUT, SHAKING HANDS WITH SPAIN PRIME MINISTER MARIANO RAJOY VARIOUS OF MONTI AND RAJOY POSING FOR MEDIA MONTI AND RAJOY ENTERING BUILDING INSIDE, MONTI AND RAJOY AT START OF MEETING VARIOUS OF MONTI AND RAJOY AT START OF MEETING VARIOUS OF MONTI AND RAJOY WALKING IN THE GROUNDS OF MONCLOA PALACE
- Embargoed: 17th August 2012 13:00
- Keywords:
- Location: Spain
- City:
- Country: Spain
- Topics: International Relations,Politics
- Reuters ID: LVAEBGK5FUUU1Y4JXYXO6A35U0CZ
- Aspect Ratio:
- Story Text: Italian Prime Minister Mario Monti met with Spanish Prime Minister Mariano Rajoy in Madrid on Thursday (August 2) as part of an ongoing series of contacts between euro zone leaders to try to find a solution to the sovereign debt crisis gripping Europe.
The meeting took place against the background of tense financial markets which had been hoping for a strong signal from European Central Bank (ECB) director Mario Draghi who spoke in Frankfurt on Thursday.
Disappointing some, Draghi said that any intervention by the ECB would be conditional.
He said the ECB will gear up to buy Italian and Spanish bonds on the open market but would only act after euro zone governments have activated bailout funds to do the same.
Monti's visit to Spain came after he travelled to France and Finland to discuss ways to strengthen the euro and spur growth.
Draghi indicated that any ECB intervention would start at the earliest in September and would depend on countries in trouble on bond markets making a request and accepting strict conditions and supervision.
He also indicated that German central bank chief Jens Weidmann had expressed reservations about bond-buying and further efforts would be needed to persuade the Bundesbank before a final vote to take action. - Copyright Holder: REUTERS
- Copyright Notice: (c) Copyright Thomson Reuters 2012. Open For Restrictions - http://about.reuters.com/fulllegal.asp
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