Euro debt firewall
Source: Agencies |
March 31, 2012, Saturday
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Print Edition
Print Edition
THE 17 countries that use the euro will put up 500 billion euros (US$670 billion) in fresh money to help countries with debt troubles - a big increase from the previous 300-billion-euro limit, but unlikely to calm concerns that large countries like Spain or Italy will not be protected if they run into trouble.
Eurozone finance ministers, who were meeting in Copenhagen, Denmark, yesterday said - in combination with some 300 billion euros that had already been spent on saving Greece, Ireland and Portugal - the currency union now possesses a 800-billion-euro financial firewall that should help put an end to its two-year-old debt crisis.
Eurozone finance ministers, who were meeting in Copenhagen, Denmark, yesterday said - in combination with some 300 billion euros that had already been spent on saving Greece, Ireland and Portugal - the currency union now possesses a 800-billion-euro financial firewall that should help put an end to its two-year-old debt crisis.
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