Wednesday Barroso

Barroso pointed out that the crisis is no longer confined to the periphery of the euro. Calls to find ways to improve the bailouts. If you would like to know more then you should visit Ohio Senator. Spain placed 3.3 billion in bonds to the highest interest since 2008. The President of the European Commission (EC), Jose Manuel Durao Barroso, has admitted that the latest measures agreed by EU governments have failed the cto wanted in the markets and that the debt crisis is no longer confined to the periphery of the euro zone. Developments in the markets of sovereign bonds of Italy, Spain and other Member States of the euro area are cause for deep concern, Barroso noted in a letter addressed Wednesday to the leaders and made public on Thursday. In it, the President of the Executive EU advocates to find ways to improve the European’s financial stability facility (EFSF) in order to tackle the current contagion. Rescue to Greece Barroso urges Member States to finalize and approve all the details of the second rescue to Greece and the EFSF’s past month of July, avoiding introducing excessive constraints on the conditionality of loans from the Fund.

Js of State and Government of the eurozone agreed the past 21 July granting more powers to the EFSF, so that it can act to prevent, finance the recapitalization of banks through loans to Governments and intervene in the secondary markets in exceptional circumstances and in consultation with the European Central Bank. But at the same time, the President of the EC calls for a quick review of all the elements linked to the EFSF, to ensure that this mechanism and the permanent that replaced it in 2013 are equipped with the means to deal with the risks of contagion. Increase of the European Fund according to a spokesman of the EC, this revision could pass inter alia by an increase of the Fund, which currently has a credit of 440,000 million capacity. Barroso stressed in his message that the problems of Italy and Spain in the markets are clearly unjustified considering their fundamentals Economic and the efforts that have been conducted, but admits that they reflect a growing skepticism among investors regarding the systemic capacity of the euro area to respond to the crisis. Clear decisions on July 21 about the Greek package and the flexibilization of the EFSF are not having the cto wanted in markets, acknowledges the Portuguese politician, who cites among the problems perceived by investors the complexity and the incomplete state of that agreement. Source of the news: EC admits that the debt crisis in Spain and Italy “are cause for deep concern”