Wednesday, October 12, 2011

Enhanced Euro Bailout Fund in place

Slovakia Clears Road to Complete Approval of Enhanced Euro Bailout Fund

Slovakia will approve Europe’s enhanced bailout fund today or tomorrow, completing the ratification process across the 17 euro countries as the region’s leaders prepare for a summit this month...
 The expanded powers of the 440 billion-euro ($600 billion) EFSF would allow the fund to buy the debt of stressed euro-area nations, aid troubled banks in the region and offer credit lines to governments. The EFSF’s current role is to sell bonds to finance rescue loans...
Comment: Lick your wounds, euro bears. 

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