The leaders of Germany, Spain, France and Italy announced on the 22nd, will be launched in this week's summit on the scale of 130 billion euros to promote growth plan to support the peripheral Eurozone member countries economic growth, the size share of the EU gross domestic product1% of value (GDP).
German Chancellor Angela Merkel said in the end of the meeting of Shikoku, to support the economic stimulus plan, which has always stressed tightening the German government has made certain compromises. However, Merkel is still clearly opposed to borrowing and increasing debt ways to promote growth.
Monti, Italian Prime Minister said that the upcoming EU summit to be held on the 28th to the 29th will be a defining moment. Unless the summit to find a lasting solution to solve the European crisis, or the euro-zone countries facing escalating speculative attack. At present, Spain and Italy, the difficulty of financing in the bond market have increased, large-scale financing to meet its capital requirements.
Overseas media reported last weekend, the euro zone finance ministers have reached an informal agreement, the first will be the European Financial Stability Fund (EFSF) rescue Spanish banks, after July 9, converted to use a permanent relief fund European stability mechanism (ESM) funding.
Two independent advisory body to provide the assessment results, the Spanish banking industry will need up to 62 billion euros in new funds to deal with the losses that may occur in the next few years. Government of Spain will be the basis of this assessment report to the EU for the bank bailout.
In addition, according to the forecast of the foreign media, Italian Prime Minister Tremonti, French President Fran?ois Hollande, and Spanish Prime Minister Rajoy is expected to require the relaxation of the euro area fiscal policy, or the issuance of common euro-zone bonds.
The analyst believes that there are indications that Europe will develop a unified comprehensive plan to curb the raging debt crisis, they will invest quickly. Barclays Bank believes that investors hope the summit can have three outcomes: Financial integration roadmap, improve banking supervision in the euro zone initiatives, as well as measures to revive economic growth.
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