Get Professional Access

Log in | Contact us

About us
Your Profile
Logout

Home Become a Member
HOME AFRICA AMERICAS ASIA-PACIFIC EUROPE MIDDLE EAST LETTER SUBSCRIBE
______________________________________________________________________________


Report
Facebook
RSS
Twitter

WEEKLY REPORT


See Privacy Policy

 

Upgrade your membership and access our archives

Become a member of ISRIA.com and take advantage of a full coverage of world diplomacy by accessing our exclusive online monitoring...

The following information is published as Open Sources, it does not constitute any endorsement from ISRIA. If titles are sometimes modified for better understanding, the contents are reproduced as delivered by the official institution that first published it. To know the origin, click on 'view original source' at the end of the page.

Share / Bookmark this Article

Spanish EU Presidency - The EU signed the financial stabilisation mechanism

Today, the Eurozone finance ministers signed the financial stability mechanism that was designed a month ago in order to help those countries in danger of insolvency. It could mean the mobilisation of up to 750,000 million euros.

Agreed on 9 May in an Ecofin meeting chaired by the Spanish Minister of Finance, Elena Salgado, this mechanism is one of the main tools designed to bring stability to the Eurozone.

The finance ministers agreed to set up this instrument with the aim of reducing the risk of the Greek public-debt crisis spreading to other states with a high deficit, such as Spain or Portugal.

Up to 750,000 million euros could be mobilised, including the contributions of the community budget (60,000 million), a special European financial facility (440,000 million) and the International Monetary Fund (250,000 million).

Called the European Financial Stability Facility (EFSF), it will be registered in Luxembourg for tax purposes

view original source

NAVIGATION

Untitled Document _From our Partner

© Copyright 2011 - ISRIA - all rights reserved - Established 2004