LUXEMBOURG (AP) — Europe made little progress Tuesday in its efforts to secure the region's stricken financial system and ensure that failing banks never risk an entire country's economy again when finance ministers from the 27-country European Union failed to agree on how a single banking supervisor should be set up.
Showing posts with label European bailout fund. Show all posts
Showing posts with label European bailout fund. Show all posts
Wednesday, October 10, 2012
Friday, September 30, 2011
Bonds show muted reaction to German vote
Australian bonds have opened largely unchanged after Germany's parliament passed a crucial vote to increase its contribution to the European bailout fund, aimed at avoiding a eurozone recession.
Of 611 German MPs present, 523 voted in favour, meaning that Germany in the future will be guaranteeing loans to the bailout fund, the so-called European Financial Stability Facility, or EFSF, of up to 211 billion euros ($A294.57 billion) rather than 123 billion euros so far.
Of 611 German MPs present, 523 voted in favour, meaning that Germany in the future will be guaranteeing loans to the bailout fund, the so-called European Financial Stability Facility, or EFSF, of up to 211 billion euros ($A294.57 billion) rather than 123 billion euros so far.
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