Struggling to assemble a credible backstop for their troubled single currency, European Union leaders on Sunday reached out for wider international support for their bailout fund by seeking investment from non-European countries or the International Monetary Fund.
Officials of the 27 nations in the European Union chalked up one victory from lengthy weekend meetings in Brussels, striking a deal to recapitalize the sickly European banking sector. Despite some resistance, agreement seemed close on a plan worth around 100 billion euros, or $138 billion, to recapitalize banks.
But as of Sunday night, officials still had no definitive answer on how they would expand the euro rescue fund, the European Financial Stability Facility — though one official said they were aiming for €750 billion to €1.25 trillion, or $1 trillion to $1.7 trillion. It is currently $600 billion or €440 billion.
THEY DON'T HAVE ENOUGH MONEY TO SAVE THE EURO.
IT'S DOUBTFUL ANYONE ELSE WILL.
CHINA IS CONTENDING WITH ITS OWN BUBBLE.
THE USA WITH OUR OWN DEBT CRISIS.
STAY TUNED...
No comments:
Post a Comment