Baku. Vahab Rzayev – APA-Economics. The leaders of Germany, France, Italy, and Spain agreed yesterday on a €130bn package to try to revive economic growth in Europe.
However, they differed over whether and how to launch joint bonds to combat the debt crisis.
After a four-way summit in Rome, Italian Prime Minister Mario Monti said the EU should adopt a series of growth measures worth about 1% of the region’s GDP 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 the talks.
The growth measures include rising the European Investment Bank’s capital, redirecting unspent EU regional funds and launching project bonds to co-finance major public investment programmes.
No new measures were announced yesterday.
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