Eurogroup new meeting scheduled for July 20

PanARMENIAN.Net - French Foreign Minister Pierre Moscovici said Sunday, July 8 there will be a new meeting of the Eurogroup on July 20 to tackle the debt crisis threatening the single currency area.

According to AFP, he said a key meeting of eurozone finance ministers on Monday will "translate into action" earlier decisions, and "there will be another one in July, on July 20 I think," he told reporters.

A June 28-29 EU summit was hailed as a breakthrough, promising fresh capital for Spain's struggling banks, a European bank union to keep the lenders in line and making it easier for the bloc's new bailout fund to help states in trouble.

Moscovici, who met with Italian Prime Minister Mario Monti earlier Sunday in this southern French town, said "one has to go further" to help Spanish banks and "move quickly" on tighter banking regulations to speed up bailouts to struggling lenders.