Eurozone crisis talks continue to fall flat

French President Francois Hollande and European Trade Union Confederation (ETUC) general secretary Bernadette Segol reiterated their demand for the issuance of eurobonds to kick start economic growth.

Addressing the press after the meeting Mr Hollande said: "There is a means by which to mutualise future debt to enable countries to access financing more easily on the financial markets."

He said that eurobonds would revive economic growth by easing the pressure on countries paying high interest on loans, and he called for eurobonds to be "written into the EU agenda."

The ETUC demanded "real support for the Greek economy and an end to the ideologically motivated reforms" imposed by the European Union, the European Central Bank and the International Monetary Fund.

Ms Segol said: "The ECB must guarantee the common currency to restore growth and confidence.

She called for "new sources of financing, such as a tax on financial transactions and eurobonds."

But European Council president Herman van Rompuy said continuing cuts and structural reforms would be "the best guarantee for a more prosperous future in the euro area."

And Mr van Rompuy called upon the forthcoming new Greek government to press on with discredited austerity measures.

The leaders of the 27 EU member states urged institutions such as the European Investment Bank to draw up proposals for growth in time for another summit in June.

foreigneditor@peoples-press.com