Jan 18, 2011
In Brussels, Eurozone finance ministers are meeting to discuss whether to boost the EU bailout fund which was only set up last year. The European Commission and European Central Bank want to widen the fund – to give it more flexibility if larger Eurozone members like Spain need help. Belgium’s Finance Minister wants the pot doubled to 1.5 TRILLION Euro. However Germany – the biggest euro zone economy – has so far ruled out any substantial increase. A reflection of the major tensions within the Union. Nigel Farage, a Member of the European Parliament and leader of the UK Independence Party says the whole idea of the Eurozone was a failure from the very beginning.
This article was posted: Tuesday, January 18, 2011 at 5:11 am