Archive

Euro Bailout Pumped to $1.4T

RESCUE

Germany to protect Spain and Italy.

cheats/2011/10/24/euro-bailout-pumped-to-1-4t/euro-bailout-cs_puhdin
Michael Gottschalk / AP Photos

In the effort to rescue eurozone countries from the ongoing debt crisis, the European Financial Stability Fund will be pumped up from $600 billion to about $1.4 trillion, according to German lawmakers briefed by Chancellor Angela Merkel. Merkel has already given the increase the go-ahead, and the lawmakers will vote on the measure Wednesday. The leader of Merkel’s party in Parliament insists the move won’t inflate Germany’s liability.

Read it at Associated Press