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Countries, as the Bundesbank head said last week, may get "hooked" on ECB aid, delaying the reduction of debt and public spending in crisis countries.
Stanley M. Bergman, the chairman, attributed the increase to favorable currency exchange rates, a larger gross margin, and a reduction of debt payments.
Shareholders of Telecom Italia, the phone company, have approved a merger with its parent, Olivetti, clearing the way for the sale of assets and the reduction of debt.
While most commentators believe the virtually bankrupt country must default and negotiate a substantial reduction of debt, the government keeps insisting that it will repay every last penny.
Its Government is looking at a budget surplus this year, and its reduction of debt in the last few years leaves it able to manage future recessions.
The new target is a reduction of debt to 124 percent of gross domestic product by 2020, from 175 percent now.
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"Some kind of a step-by-step reduction of debts, depending on debt levels, and less when debts are lower".
After that, negotiations will start for a substantial reduction of the debt, which may be followed by a moratorium on servicing the debt until the economy starts growing again.
Agencies like Standard & Poor's Ratings Services view benefit trusts as a reduction of companies' debt.
Offering limited rights on some of its territorial assets while retaining sovereignty over them can be an optimal way to finance a reduction of state debt.
The package emerging for discussion on Thursday is likely to have as its aim the reduction of the debt burden on peripheral euro zone countries.
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