Brussels, 28/01/2011 (Agence Europe) - One of the “options on the table” for a comprehensive response to the eurozone sovereign debt crisis is the EFSF buying up government bonds, admitted a spokesperson for EU Economic and Monetary Affairs Commissioner Olli Rehn on Friday 28 January. The French and Greek finance ministers, speaking at the World Economic Forum in Davos, both admitted that the idea was being discussed.
Although no action decisions are expected until the end of March 2011, the Commission hopes that the European Council of Friday 4 February will make a decisive step towards deciding on a full system for all the issues on the table because it is important and urgent to make progress in areas like increasing the EFSF's clout and powers, reforming economic governance, consolidating the budget and introducing structural reforms (see EUROPE 10302).
On Friday, two leaders of Ireland's Fine Gael party (the party polled to win the general elections at the end of February) Michael Noonan and Enda Kenny, met with President of the Commission José Manuel Barroso, explaining their desire for a reduction in the 5.8% interest charged on the recent loans to Ireland and the money due to private creditors by Ireland's banks. (M.B./transl fl)