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Spain, Italy Appeal for More Action

Rajoy battles ECB for loans as Monti urges greater EU response to debt crisis.

By Ben Sills and Angeline Benoit, Bloomberg | Updated on June 13, 2012

Spain and Italy appealed to European policy makers to step up their response to the financial crisis after a 100 billion-euro ($125 billion) lifeline for Spanish banks failed to calm markets.

Spanish Prime Minister Mariano Rajoy said today he’ll “battle” central bankers refusing to buy debt from peripheral nations. Rajoy published a letter to European Union leaders calling for the European Central Bank to buy debt from the countries struggling to shore up their finances.

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