BEIJING, Aug. 3 (Xinhuanet) -- Spanish Prime Minister Mariano Rajoy has met with Italian Prime Minister Mario Monti in Madrid. Monti is on an official one-day visit to discuss a request for help from the 's bailout fund.

Both countries face high borrowing rates. Italian bond interest rate exceeded six percent this summer. The high rate means that the higher debt servicing costs will leave the country with less money for necessary public expenses in the long run.

The timing of the meeting between Mr. Monti and Mr Rajoy has led some to speculate that the announcement was choreographed.

Earlier this week, Mr. Monti said eurozone leaders were discussing using the bloc's rescue funds, the European Financial Stability Facility and later the European Stability Mechanism to purchase sovereign debt.

The most likely scenario is expected to be an agreement in September for the EFSF to buy the debt of the two countries on the primary market, with the ECB weighing-in on secondary markets if necessary.

(Source: CNTV.cn)