Eurozone uses emergency bailout fund to recapitalize
AFP and AP reported that European Council President Herman Van Rompuy said Eurozone leaders reached an agreement on June 29 to use the bloc's permanent bailout funds to help reduce borrowing costs for struggling countries, as well as to directly recapitalize loss-making banks.
AFP and AP reported that European Council President Herman Van Rompuy said Eurozone leaders reached an agreement on June 29 to use the bloc's permanent bailout funds to help reduce borrowing costs for struggling countries, as well as to directly recapitalize loss-making banks.
The eurozone will use its rescue fund more flexibly to "reassuring markets and restoring stability to member states' government bonds," Rompuy said.
President of the European Council Herman Van Rompuy. (Source: Internet)
He said the 17-nation Eurozone leaders had also agreed on a common banking supervisory authority.
Mr. Rompuy added that the leaders of all 27 European Union (EU) member states have agreed on a long-term master plan to tighten budget management and strengthen political solidarity./.
According to (Vietnam+) - DT
