Deal on mechanism for eurozone rescue package

Finance Ministers from the 16 eurozone countries reached agreement at a Eurogroup meeting held on the 7 June 2010 on the key mechanism by which they will operate the landmark €750bn stabilisation facility for the eurozone’s most vulnerable members.

In addition, article reports on the second meeting of the Economic Governance Task Force established by European Council President Herman Van Rompuy in May 2010, which was also held in Luxembourg on the 7 June 2010.

ESO: Background information: US raises pressure on Europe over aid plan http://www.europeansources.info/record/us-raises-pressure-on-europe-over-aid-plan/

ESO: Background information: The Greek debt crisis of 2010 http://www.europeansources.info/record/the-greek-debt-crisis-key-sources/

ESO: Background information: EU and IMF agree €720bn boost for rescue plan http://www.europeansources.info/record/eu-and-imf-agree-e720bn-boost-for-rescue-plan/

European Council: Press Release: PCE/10/118: Remarks by Herman Van Rompuy, President of the European Council, following the second meeting of the Task force on economic governance http://www.consilium.europa.eu/uedocs/cms_data/docs/pressdata/en/ec/114979.pdf

Council of the European Union: Press Release, 7.6.10: Decision of the 16 euro area Member States http://www.consilium.europa.eu/uedocs/cms_data/docs/pressdata/en/misc/114976.pdf

Council of the European Union: Press Release, 7.6.10: Terms of reference of the Eurogroup European Financial Stability Facility http://www.consilium.europa.eu/uedocs/cms_data/docs/pressdata/en/misc/114977.pdf

Eurogroup: Press Release, 7.6.10: Spring 2010 orientation debate on budgetary policies: Orientations for fiscal policies in euro area Member States http://www.consilium.europa.eu/uedocs/cms_data/docs/pressdata/en/misc/114978.pdf

EurActiv, 8.6.10: EU ministers discuss sanctions for debt-laden economies http://www.euractiv.com/en/euro/eu-ministers-discuss-sanctions-debt-laden-economies-news-494956

IMF Survey, 7.6.10: IMF urges swift action to store confidence and growth in the euro area http://www.imf.org/external/pubs/ft/survey/so/2010/CAR060710A.htm

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