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The Boston Globe

Business

Spain, Italy say they don’t need bond program’s assistance

MADRID — The leaders of Spain and Italy insisted Monday that neither country had near-term plans to invoke the bond-buying program that the European Central Bank had offered, nor to support a recent proposal for a supercommissioner who might intervene in national budgets.

Instead, both the Spanish prime minister, Mariano Rajoy, and his Italian counterpart, Mario Monti, said they would continue to push for rapid adoption of a European fiscal and banking union.

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