2011年11月3日星期四

With senior EU and IMF inspectors due in Athens

But there is strong political opposition in northern Europeto underwriting the debts Rosetta Stone of what are seen as profligatesouthern states, making euro bonds a distant prospect.European Commission President Jose Manuel Barroso told theEuropean Parliament that closer union, particularly in the euroarea, was the only way to reverse the negative cycle infinancial markets. "Today I want to confirm that the Commission will soonpresent options for the introduction of eurobonds. Some of thesecould be implemented within the terms of the current treaty, andothers would require treaty change," he said. But he warned that such bonds were no silver bullet to endthe crisis, and could only be part of a comprehensive plan.China added its voice to U.S. concerns over Europe'sapparent inability to stop debt contagion spreading, whileIndian and Brazilian officials said major emerging economieswere discussing increasing their euro sovereign holdings.U.S. Treasury Secretary Tim Geithner urged European leadersto act more forcefully to solve the escalating crisis, sayingthey have the economic and financial capacity to do so. With senior EU and IMF inspectors Rosetta Stone languages due in Athens on Monday tocheck Greece's faltering compliance with its bailout plan,Chancellor Angela Merkel and President Nicolas Sarkozy urgedPrime Minister George Papandreou to implement austerity measuresto meet fiscal targets, a French statement said. "Despite recent rumours, all parties stressed Greece willremain in the euro zone," Greek government spokesman IliasMossialos said after the 25-minute telephone call.A Greek official said after the call that Athens nowexpected the EU/IMF "troika" to report that Greece was on trackto meet its 2011-12 targets after the latest additionalausterity measures announced last weekend. EU Economic Affairs Commissioner Olli Rehn said issuingcommon euro zone bonds would require much more intrusivesurveillance of member states' fiscal and economic policies,which would have to be fully debated in each country.A German Finance Ministry spokesman reaffirmed Berlin'sopposition to the idea but said it awaited the proposals.STOP CRISIS SPREADING China and the United Rosetta Stone Italian States both voiced concern that eurozone governments may be losing control of the debt crisis.

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