Big four agree €130bn package

The leaders of Germany, France, Italy, and Spain agreed yesterday on a €130bn package to try to revive economic growth in Europe.

However, they differed over whether and how to launch joint bonds to combat the debt crisis.

After a four-way summit in Rome, Italian prime minister Mario Monti said the EU should adopt a series of growth measures worth about 1% of the region’s GDP at a summit next week.