(MENAFN- Qatar News Agency) Euro zone leaders decided to take new measurements to ease each of Spain's and Italy's increasing borrowing costs being a rising concern among investors and global policy makers.
Following long talks that ended Friday, they decided to ease the emergency loans rules on Spanish banks, to reduce market pressure on Italy and Spain, and to call off the government's requirements on getting preferred creditor status on crisis loans to Spain.
"We agreed on short-term measures that should apply to Spain and Italy," said Luxembourg Prime Minister Jean-Claude Juncker, who headed the group of euro finance ministers.
EU president, Herman Van Rompuy said the decisions taken were a "real breakthrough" to rescue the Eurozone from a recurring crisis.
Satisfied with the decisions took, Italian Prime Minister Mario Monti said, "Everything is very important for the future of the EU and the euro zone. Italy is doubly satisfied."
Meanwhile, European Commission President Jose Manuel Barroso called the decision a "very ambitious" that implies the EU state members' commitment towards the crisis.
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