BERLIN (AP) — The German and Italian leaders have pledged to do everything to protect the eurozone, adding to a string of assurances over recent days that Europe is determined to get a grip on the continent's debt crisis — but their governments again gave no details of any action.
Another possibility might be for the eurozone's temporary rescue fund, the European Financial Stability Facility, to buy bonds — though Merkel's finance minister, Wolfgang Schaeuble, has dismissed talk that Spain might apply to the fund for such help.
Countries that pledge to implement reforms demanded by the EU's executive Commission also would be able to tap rescue funds without having to go through the kind of tough austerity measures demanded of Greece, Portugal and Ireland.
International debt inspectors are scrutinizing Greece's finances and its progress in implementing unpopular budget cuts and reforms demanded in exchange for the rescue loan program that is keeping the country afloat.
[...] a political crisis sparked by fierce rivalry among Greece's main political parties stalled the reforms for three months, and a three-party coalition finally emerged in June after two inconclusive elections.
Another possibility might be for the eurozone's temporary rescue fund, the European Financial Stability Facility, to buy bonds — though Merkel's finance minister, Wolfgang Schaeuble, has dismissed talk that Spain might apply to the fund for such help.
Countries that pledge to implement reforms demanded by the EU's executive Commission also would be able to tap rescue funds without having to go through the kind of tough austerity measures demanded of Greece, Portugal and Ireland.
International debt inspectors are scrutinizing Greece's finances and its progress in implementing unpopular budget cuts and reforms demanded in exchange for the rescue loan program that is keeping the country afloat.
[...] a political crisis sparked by fierce rivalry among Greece's main political parties stalled the reforms for three months, and a three-party coalition finally emerged in June after two inconclusive elections.
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