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Eurozone finance ministers to hold extra meeting on debt crisis

03-15-2011 08:05 BJT

BRUSSELS, March 14 (Xinhua) -- Eurozone finance ministers will hold an extra meeting next Monday to discuss details of a comprehensive package to deal with Europe's sovereign debt crisis.

"Since there are various differences of view between member states ... I decided to reconvene the Eurogroup a week from today, " Eurogroup President Jean-Claude Juncker told reporters on Monday after chairing a regular meeting of 17 finance ministers of the bloc.

At an informal summit last Friday, eurozone leaders reached an agreement on the major elements of the comprehensive package due to be adopted at a summit meeting of 27 European Union (EU) leaders on March 24-25.

The eurozone leaders decided to increase the effective lending capacity of the current rescue fund to its full amount of 440 billion euros (about 611 billion U.S. dollars), allow it and the future permanent rescue fund to buy bonds in the primary market, and lower interest rates of loans to Greece and extend maturity of the loans.

"As regards increasing lending capacity, as you can expect, we looked into various technical possibilities, including increasing guarantees," Juncker said, adding that "this is something that needs further discussion and more in-depth discussion."

But he stressed that the difference is not big, saying that the ministers will continue their discussion next Monday.

Editor:Zhang Pengfei |Source: Xinhua

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