European Leaders Create 2013 Debt Mechanism Amid Debate on Immediate Steps
By James G. Neuger and Jonathan Stearns - Dec 17, 2010 8:06 AM GMT-0200 European Union leaders agreed to amend the bloc’s treaties to create a permanent debt-crisis mechanism in 2013 as they struggled to bridge divisions over immediate steps to stabilize bond markets.
A day after the European Central Bank armed itself with more capital to resist the crisis, the EU weighed measures such as using the bloc’s main rescue fund to buy bonds of fiscally distressed countries including Portugal and Spain.
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