“French President Francois Hollande pushed German leaders to use the European Union’s permanent rescue fund to buy debt from countries such as Italy that have taken steps to revamp their economies.
“Italy has launched an idea that deserved to be looked at,” Hollande told reporters after a summit of Group of 20 leaders in Los Cabos, Mexico. The proposal is for “virtuous countries like Italy,” which have improved their public finances, to “be able to get funding for their debt” at better rates than countries that didn’t make the same efforts.”
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