Tags: EU | Europe | Financial | Crisis

EU Under Pressure to Finalize Rescue Fund

Monday, 12 Jul 2010 08:26 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

European officials are under pressure to set up a bailout fund for indebted nations before next week's publication of bank stress test results, which could highlight new financial strains.

Slovakia is holding up a 750 billion euro ($948 billion) rescue package that aims to prevent any EU state from defaulting on debt. Its new government says it wants to negotiate further on how much it will pay into the fund.

Jean-Claude Juncker, head of the eurozone finance ministers' group, says he is confident Slovakia will sign up soon and that the fund would be "available without any doubt by the end of the month."

Officials say the fund should be ready before July 23, when banking supervisors publish stress tests to show how much banks would lose if markets worsen sharply.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web

Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 

You May Also Like
Around the Web

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved