Bloomberg News

Italy’s Monti Says No Euro Bonds Without Controls, FAZ Reports

July 04, 2012

Italian Prime Minister Mario Monti said his country isn’t demanding the introduction of common euro bonds without an increase in European budget control, Frankfurter Allgemeine Zeitung reported, citing an interview.

“We need a partial mutualization of debt, but also more central control of national budgets,” Monti is quoted by the newspaper as saying. “Without proper control it would be irresponsible to burden others with a share of your own debt.”

Monti added that Italy “isn’t calling for a rescue and isn’t calling for euro bonds,” FAZ reported. “Italy is doing everything necessary for an increase in growth.”

To contact the reporter on this story: Jeff Black in Frankfurt at jblack25@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net


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