Memo: Statement by Vice Presidents Rehn and Tajani on commercial debt of public administrations

The recovery in the European economy must be built on the solid foundations of sound public finances. Moreover, the European Commission needs to unleash productive investment and restore lending to the real economy. The excessively tight financing conditions, especially in southern European countries like Spain, Portugal and Italy, are hindering the flow of credit to households and businesses. This is holding back export growth and economic activity.

ESO: Key Source: The Euro Crisis http://www.europeansources.info/record/the-euro-crisis-key-sources/

---