Troubled Spain, Italy Vow to Work Together to Solve Crisis

Spanish Prime Minister, Mariano Rajoy (L), greets his Italian counterpart, Mario Monti (R), at the Moncloa Palace in Madrid (Spain) 02 August 2012. EPA/BGNES

Spanish PM Mariano Rajoy and Italian counterpart Mario Monti stated their countries will work together to battle their financial hardships during Monti's Thursday visit to Madrid.

"Our two countries want to work together," stated Rajoy at a joint press conference after their meeting.

"We realize that we require from our citizens to put in a lot of efforts, but this is the only way to emerge from the crisis," stated the Spanish PM.

On his part, Italian PM Monti said his country is not in need of a bailout plan to strap up its finances.

"Italy has strong enough public finances," stated Monti, added that the country has still measures to implement to achieve a better balance.

Among the large economies in the eurozone, Spain and Italy have been the most affected by the ongoing financial crisis.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!