Deal reached to boost eurozone bail-out fund

Eurozone Finance Ministers meeting in the Eurogroup on the 14 February 2011 have backed a doubling of the full lending capacity of the future EU bail-out fund.

From 2013, the European Stability Mechanism, a permanent rescue mechanism to replace the European Financial Stability Facility (EFSF), the current bail-out arrangement, will have an effective lending capacity of €500 billion.

EUObserver: EU ministers to double lending power of bail-out fund http://euobserver.com/9/31808

ESO: Background information: Eurozone summit looms amid growing hostility to Franco-German pact http://www.europeansources.info/record/eurozone-summit-looms-amid-growing-hostility-to-franco-german-pact/

EurActiv, 15.2.11: EU eyes bigger rescue fund http://www.euractiv.com/en/euro-finance/eu-eyes-bigger-rescue-fund-news-502170

BBC News, 14.2.11: Eurozone agrees bail-out fund of 500bn euros http://www.bbc.co.uk/news/business-12460527

Deutsche Welle, 15.2.11: Eurogroup ministers agree to double size of bailout fund http://www.dw-world.de/dw/article/0,,14842361,00.html

Spiegel Online International, 14.2.11: Euro Proposal Could Face Constitutional Concerns in Germany http://www.spiegel.de/international/europe/0,1518,745398,00.html

Spiegel Online International, 15.2.11: Ministers Agree 500-Billion-Euro Permanent Rescue Fund http://www.spiegel.de/international/europe/0,1518,745620,00.html

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