EU needs 130 billion growth package -Monti
ROME (Reuters) - Germany, France, Italy and Spain agreed on Friday that the European Union should adopt a series of growth measures worth about 1 percent of the region's growth domestic product, Italian Prime Minister Mario Monti said.
"We want there to be a significant European growth package, that is worth about 1 percent of GDP, or 130 billion euros (104.7 billion pounds)," Monti said after a four-way summit in Rome.
"Growth can only have solid roots if there is fiscal discipline, but fiscal discipline can be maintained only if there is growth and job creation," Monti said.
The Italian leader added that he and German Chancellor Angela Merkel, French President Francois Hollande, and Spanish Prime Minister Mariano Rajoy agreed that while much had been done to stem the euro crisis, it was still insufficient.
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DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.