Spain, Italy meet on eurozone crisis

Associated Press
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Spain's Prime Minister Mariano Rajoy, right, and Italy's Prime Minister Mario Monti, left, leave after a press conference at the Moncloa Palace in Madrid, Spain, Thursday, Aug. 2, 2012. (AP Photo/Andres Kudacki)

MADRID (AP) — Italy's Prime Minister Mario Monti says his country will not seek a bailout after a meeting Spanish Premier Mariano Rajoy, who dodged questions about whether his government would use European rescue funds.

Both leaders said at a joint press conference in Madrid Thursday that they welcomed European Central Bank president Mario Draghi's commitment that "the euro currency was irreversible."

The prime ministers signed a joint statement Thursday committing themselves to "setting in motion a road map for greater fiscal and financial integration to complete a true economic and monetary union."

While Mario Monti said Italy's finances were solid, Mariano Rajoy replied that he would continue trying to reduce Spain's public deficit by sticking to planned structural reforms.