EU signs permanent rescue fund

Eurozone governments started the ratification process for the permanent aid fund and renewed a pledge to reassess a €500 billion ceiling on overall rescue lending in March.

2nd February, 2012
EU signs permanent rescue fund
EU President Herman Van Rompuy.

Eurozone governments started the ratification process for the permanent aid fund and renewed a pledge to reassess a €500 billion ceiling on overall rescue lending in March.

The European Stability Mechanism treaty will go to national governments for ratification after a signing ceremony in Brussels today, the European Union said. The goal is for it to become operational on 1st July, a year earlier than previously planned.

“This permanent crisis mechanism will contribute to raising...

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