European Commission head Jose Manuel Barroso has urged EU countries to speed up ratification of the bloc's new-model bailout mechanism to reassure markets on Italy and Spain.
In a flash statement emailed to press on Wednesday (3 August), Barroso voiced "deep concern" about the increase to record highs in the cost of borrowing for the two countries in recent days.
"It is essential ... that we move forward rapidly with the implementation of all of that has been agreed by the heads ...
Enjoy access to all articles and 25 years of archives, comment and gift articles. Become a member for as low as €1,75 per week.
Already a member? LoginAndrew Rettman is EUobserver's foreign editor, writing about foreign and security issues since 2005. He is Polish, but grew up in the UK, and lives in Brussels. He has also written for The Guardian, The Times of London, and Intelligence Online.
Andrew Rettman is EUobserver's foreign editor, writing about foreign and security issues since 2005. He is Polish, but grew up in the UK, and lives in Brussels. He has also written for The Guardian, The Times of London, and Intelligence Online.