Italy’s Monti offers using bailout fund to buy sovereign debtJune 20, 2012 - 15:17 AMT PanARMENIAN.Net - Italian Premier Mario Monti has proposed using the eurozone's €440 billion ($555 billion) bailout fund to buy sovereign debt and ease pressure on Italian and Spanish borrowing rates, AP reports. Monti told a briefing at the close of the Group of 20 summit that using European Financial Stability Facility funds "was one of the topics of conversation" among leaders. The news agency LaPresse quoted the Italian premier Wednesday, June 20, as saying the idea would be discussed further when he meets with the leaders of Germany, France and Spain in Rome on Friday. The leaders plan to come up with proposals for an EU summit the following week. Spain's admission last week that it needs a bailout for its banks has sent both Spanish and Italian borrowing costs skyrocketing to perilous levels. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Biden honors resilience of Armenian people on April 24 U.S. President Joe Biden has issued a statement on the 109th anniversary of the Armenian Genocide. Ex-Karabakh leader moved to solitary confinement cell in Baku, his son says David Vardanyan is the son of former Karabakh leader Ruben Vardanyan who who is currently imprisoned in Azerbaijan. Macron says France commemorates 109th anniv. of Armenian genocide Today France commemorates the 109th anniversary of the Armenian genocide of 1915, Macron says. Freedom House concerned by mounting reports of police violence in Armenia Freedom House urged Armenian authorities to investigate this pattern of excessive force and inhumane treatment. |