Web Sify
Follow us on
Mail
Print

Summary Box: Eurozone boosts financial buffers

Source : AP
Last Updated: Fri, Mar 30, 2012 18:31 hrs

: The 17 countries that use the euro have boosted their emergency funding for debt-troubled countries to €800 billion ($1.1 trillion) — an amount that falls short of what the currency union's international partners had said is needed.

PARTLY USED: Of the €800 billion, which finance ministers agreed Friday in Copenhagen, only some €500 billion is still available. About €300 billion in loans have already gone to bail out Greece, Ireland and Portugal.

IMF'S OPINION: The International Monetary Fund and others have called for a financial "firewall" of more than €1 trillion in case Spain and Italy needed assistance.




blog comments powered by Disqus
most popular on facebook
talking point on sify news