Euro States Lay Groundwork for Bond Buys, Speed Spanish Aid
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European governments laid the groundwork for possible purchases of Italy’s bonds and fast-tracked aid for Spain’s banks, trying to shield the euro area’s third- and fourth-largest economies from the resurgent debt crisis.
Finance ministers worked out a way for the euro bailout funds to intervene in bond markets and said the first 30 billion euros ($37 billion) of 100 billion euros in rescue loans will start flowing to Spanish banks this month.