Italy: government held "lengthy" discussions on the activation of the EFSF (BBG)
| Bloomberg: |
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"Prime Minister Mario Monti's Cabinet held "lengthy" discussions on a possible request for the euro- region's bailout funds to buy its bonds (...) a government minister said. "We still have some time to discuss it; we will see what the conditions will be," Education Minister Francesco Profumo said in an interview today in Rome, when asked whether Italy would make a request in September. A request for bond buying by the euro-region's rescue founds would require Italy to agree to conditions before the purchases could begin. Profumo said the government is confident that the euro-region allies would accept the measures already adopted by the government and not require additional austerity. "In our case, the memorandum of understanding wouldn't anticipate additional elements," Profumo said, referring to the agreement Italy would need to sign in return for the bond buying." |
| source: Monti's Cabinet Discussed Possible Bond-Buying Request | Bloomberg |
| "governments must stand ready to activate the EFSF/ESM in the bond market when exceptional financial market circumstances and risks to financial stability exist - with strict and effective conditionality" Draghi, August 2, 2012 |
