The Italian government proposes using the EU's rescue funds, known as the European Financial Stability Facility and the European Stability Mechanism, to buy bonds in the secondary market to help bring down yields and lower refinancing costs.
Both funds are able to buy sovereign debt, but so far only the European Central Bank (ECB) has done so buying up over 210 billion euros ($266 billion) worth of debt since launching the program in May 2010.
A second, more detailed audit of Spanish banks will be released on July 31, as initially scheduled, a spokesman for the economy ministry said on Tuesday.
"There won't be any delay in completing the audit of Spain's banks," the spokesman told Reuters.
Earlier on Tuesday, a source at the Bank of Spain had said the audit would be delayed to September. The results of the first part of the audit are still expected by June 21.
Greece's politicians edged closer to a deal to form a new coalition government on Tuesday with the announcement of a new government hoped for Wednesday morning.
The new government is likely to seek concessions from European lenders on its austerity program, and the euro zone signaled it was ready to negotiate.Page 2 of 3 | Prev Page | Next Page