“The solution to the crisis can only come from each of us doing our homework well and quickly and without contradicting each other in our common European home”. Così Prime Minister Mario Monti, visiting Spanish Prime Minister Mariano Rajoy, declared himself "satisfied" with the measures implemented by Madrid in recent months. "I am sure that the measures implemented by the Spanish executive and the bank restructuring process will help create the conditions for lowering the still too high unemployment rate," said Monti. Furthermore, in doing so, the way has been paved for the direct capitalization of banks, respecting the capital requirements without weighing on the public accounts and "we both hope that the European Union will very soon reach an agreement on banking supervision at European level and that it will be implemented" .
Premier Rajoy confirmed "our commitment to complete our obligations and honor the commitments we have signed" to restore the public deficit and increase employment. “At the Council last June”, continued the Spanish prime minister, “important steps forward were taken towards a stronger European Union. The irreversibility of the euro has been reaffirmed and Italy and Spain are working to ensure that these measures are implemented”.
"Now Spain, like Italy", continued Monti, "is encountering difficulties but I want to underline the deep appreciation for the efforts that the Spanish people are making for the consolidation of the public finances and for the structural reforms, above all of the labor market and the latest maneuver presented in mid-July. They are courageous in an already so complex context”.
With regard to statements by the president of the ECB, Mario Draghi, Rajoy wanted to reiterate his full consensus above all on the importance of the irreversibility of the euro and the need for a greater strengthening of the Union. Prime Minister Monti, answering a question, declared that "I don't see any steps backwards compared to last week's declarations, but continuity". “I don't know if the Italian government will ask for EFSF aid to be activated, first we need to analyze the methods carefully and understand if we need it or not. But the Government will continue to strictly do what Europe asks of Italy, which coincides with Italy's interests”.
"The stabilization of the markets depends a lot on the ability of the eurozone to manage the crisis effectively," Monti continued. “I am convinced that it is equally important to accelerate as much as possible the growth initiatives defined at EU level and summarized in the last European Council”.
