Monti sees progress on growth after meeting of EU leaders

Premier Mario Monti said he saw signs that the European Union was putting greater stress on promoting economic growth and less on austerity as it tries to emerge from the eurozone crisis after meeting other leaders in Brussels. Monti said a six-hour informal dinner late on Wednesday was "promising" and that there was a "small acceleration" towards a union that puts greater emphasis on growth, as requested by Italy, France and other countries amid reluctance from Germany. He added that "more awareness" was needed from some European partners about the complexity of the crisis, adding that a "mayor package" of measures for growth would help calm the financial markets, which are spooked by the prospect of Greece leaving the euro. He said that the idea of introducing eurobonds to help lower borrowing costs, with the state bonds of countries such as Italy and Spain coming under pressure on the markets, remained "on the table" despite German opposition. The premier also confirmed that German Chancellor Angela Merkel will attend a four-way meeting in Rome in June with himself, French President Francois Hollande and Spanish Premier Mariano Rajoy. The meeting will enable the leaders to seek common ground ahead of an EU summit at the end of June devoted to growth.