FXstreet.com (Barcelona) - According to Bloomberg, the Italian government has been extensively discussing the possibility of asking EU bailout funds to purchase Italian bonds, despite earlier declarations from PM Mario Monti that such a move was unnecessary.

Italian Education Minister Francesco Profumo told reporters today that the issue still needs to be discussed, but that he believes the EU would not ask for further budget cuts should Italy decide to sign an agreement on the aid.

“In our case, the memorandum of understanding wouldn’t anticipate additional elements,” the Minister assured.

The spread between Italian and German 10-year bonds reached 446 points on Thursday.