Clampdown on EFSF, north Europe says

Propose greater national responsibility on losses

(ANSA) - Brussels, November 2 - Ten northern European countries in the so-called neo-Hanseatic League have warned Italy that a reform of the eurozone including a clampdown on the European Financial Stability Facility (EFSF) may hit Italian bonds, Dutch daily De Volkskrant said Friday.
    In a position paper, finance ministers from Denmark, Estonia, Finland, Ireland, Lithuania, Latvia, Sweden, Netherlands, Slovakia and Czech Republic say the reform would mean greater responsibilities for individual states for the losses they incur.
    De Volkskrant said this amounted to a "strong warning to Italy: investors in Italian State bonds could lose their money".
    The paper also urged countries to implement prudent fiscal policies.
   

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