The German and Italian leaders have pledged to do everything to protect the eurozone, adding to a string of assurances over recent days that Europe is determined to get a grip on the continent's debt crisis _ but their governments again gave no details of any action.
Sunday's statement from Germany and Italy came before markets open for a week in which close attention will be focused on Thursday's meeting of the European Central Bank's policy-setting governing council. Last Thursday, ECB President Mario Draghi said the ECB would do "whatever it takes" to preserve the euro _ and markets surged on hopes of action.
Chancellor Angela Merkel and Italy's Premier Mario Monti spoke by phone Saturday and "agreed that Germany and Italy will do everything to protect the eurozone," German government spokesman Georg Streiter said. Monti's office said they agreed to "take all necessary measures to protect the eurozone."
That was nearly identical to a statement issued Friday by Merkel and French President Francois Hollande, which came in the wake of Draghi's comments.
None of the leaders have said anything about any specific action. But the comments raised expectations that the ECB might step in to buy Spanish and perhaps Italian government bonds to lower the countries' borrowing costs, which have been worryingly high in recent weeks.
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