"This is a truly important outcome for Europe," in part because "an impressive operation" has been set in motion with a value of "one per cent of the Union's GDP," or 120 billion euros, Mr Monti added.
The position of Italy and Spain has been a "good operation", enabling - as other Euro-Zone colleagues have acknowledged - the summit to be rounded off with a "package that makes the whole thing more plausible," including the Growth Pact. Just the growth measures alone, Mr Monti noted, "would have taken pressure off the spread, but it was a small measure against the background of the current tensions: we contributed towards forcing the consideration" of other measures during last night's long session and these will shortly be transformed into "operative mechanisms by the Euro-Group meeting of July 9".
These two days have seen "good group dynamics, with very frank exchanges" and German Chancellor Angela Merkel had a leading role "in this debate, also on a sporting level," the Italian Prime Minister noted. "A great relationship exists with Ms Merkel, as there was previously, and we shall meet again in Rome on July 4".(ANSAmed).