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Monti, Draghi Want To Boost ESM Volume To EUR1 Trillion
Italian Prime Minister Mario Monti and European Central Bank President Mario Draghi are calling for the European Stability Mechanism's volume to be boosted to EUR1 trillion from EUR500 billion, increasing pressure on the German government to approve an increase, Germany's Spiegel magazine reports Saturday in a pre-release of its latest edition without citing sources. The article alleges Monti views such a step as a way of increasing confidence in the currency union, which would cause interest rates on European sovereign bonds to fall. Monti has already informed the German government of his wishes, Spiegel reports, ... (full story)
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