Huge bailout package to save the eurozone
Last week EU finance ministers have agreed on a bailout package worth 750 million euros in order to save the eurozone.
The main reason of introducing this huge rescue package is to restore confidence in the common currency and protect it at the same time in countries like Portugal and Spain.
European Union Comission President, Jose Manuel Barroso stated that the approved deal will help reclaiming investors confidence in the common currency. The Spanish government also believe that these arrangements will help to stabilize the current situation and will assist to overcome speculations.
The package consists of 500 million euros of loans ready to be lifted to any indigent EU countries plus 250 million euros of aid provided by the IMF.
German Chancellor Angela Merkel also expressed her opinion regarding the rescue package, that hopefully will “strengthen and protect” the euro.
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