Saturday August 15, 2020

EU rescue fund to be increased for 1 year

European governments are preparing for a one-year increase in the ceiling on rescue aid to €940 billion to keep the debt crisis at bay, according to a draft statement written for finance ministers and seen by Bloomberg News.

29th March, 2012
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Rescue fund to grow: B Bloomberg

European governments are preparing for a one-year increase in the ceiling on rescue aid to €940 billion to keep the debt crisis at bay, according to a draft statement written for finance ministers and seen by Bloomberg News.

As well as adding €200 billion to the present fund, they are also set to allow the temporary fund’s unused €240 billion to be tapped until mid-2013 “in exceptional circumstances following a unanimous decision of euro-area heads...

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